Established automakers have jumped into the burgeoning electric vehicle (“EV”) industry with plenty of gusto. Most automakers have pledged to electrify their lineups over the next two decades, with some of them already unveiling EV models to extremely positive reactions. Large automakers have been able to leverage their decades of experience and contacts gathered from years in the business and electrify their lineups in ways that EV start-ups never could. The results have been encouraging, to say the least, and no car maker has experienced this as much as German auto-manufacturer Porsche.
Interestingly, the German company currently has only one electric vehicle on the road: the all-electric Porsche Taycan. Unveiled in late 2019, the Porsche Taycan features game-changing EV technology and was Porsche’s first foray into the electric vehicle segment. In the nearly two years since sales began, the four-door, dual motorsports car has enjoyed significant sales, so much so that the groundbreaking electric vehicle has already outsold Porsche’s influential, high-performance 911 series. First launched in 1964, the 911 consists of 16 variations with three different body styles, and it has been synonymous with Porsche for the past five or so decades.
In the first nine months of the year, Porsche sold 27,972 units of the 911 compared to 28,640 units of the Taycan. Porsche’s first-ever electric vehicle also outsold the Porche Panamera. Detlev von Patel, a member of the executive board for sales and marketing at Porsche, says that demand for the German automaker’s sports cars was strong all year, with the car maker seeing an overall 13% bump in vehicle deliveries and selling 217,198 cars in 2021.
On top of its high-performance sports cars, Porsche’s SUVs and crossovers have also enjoyed considerable demand, accounting for a large percentage of its vehicle sales. Over the first nine months of the year, Porsche sold 62,451 units of the Porsche Cayenne, 61,944 units of the Macan, and 15,916 units of the niche 718 Boxster and 718 Cayman.
The Taycan was unveiled to rave reviews, and the fact that it has outsold most of Porsche’s signature vehicles, especially the 911 series, bodes well for the company’s electrification plans. As 2021 draws to a close, this year’s sales have filled Porsche with optimism and enthusiasm, Von Platen says. The German automaker will extend its lineup of electric vehicles by producing an all-electric version of the Macan, a move that will likely push the company into fully electrifying its lineup.
As more players such as Net Element (NASDAQ: NETE) throw their hats in the EV ring, it looks like stiff competition is brewing up between the legacy automakers and the EV start-ups.
NOTE TO INVESTORS: The latest news and updates relating to Net Element (NASDAQ: NETE) are available in the company’s newsroom at http://ibn.fm/NETE
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