Porsche to Cut Model Variant Range, Raise Prices on Premium Models by 20%

On October 7, sports car manufacturer Porsche disclosed at the Capital Market Day that it would optimize its model variant range to focus its product portfolio on attractive premium segments. The company plans to reduce the number of model variants by approximately 20% to simplify its product mix. It is expected that, in the medium term, average sales per model variant will increase by about 30%. Porsche also plans to raise the average price of its premium models by 20% and will launch a new 911 variant. By 2030, the average price of Porsche's premium models is expected to rise from around €270,000 this year to over €330,000. Porsche stated that it plans to introduce at least one new product defining its brand image annually by 2030.