Porsche Records 10% Surge In Deliveries For The First Three Quarters; China Deliveries Slump 12%
Portfolio Pulse from Shivani Kumaresan
Porsche AG reported a 10% increase in global deliveries for the first three quarters of 2023, with a total of 242,722 vehicles delivered. However, deliveries in China slumped by 12% due to ongoing economic challenges. All other markets showed positive growth, with Europe seeing a 23% increase and Germany a 19% increase. The company's shares (DRPRF) closed lower by 1.56% at $9.43 on Thursday.
October 13, 2023 | 12:29 pm
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Despite positive global delivery numbers, Porsche's shares (DRPRF) closed lower, potentially due to the slump in China deliveries.
Porsche's overall positive delivery numbers could have been overshadowed by the slump in China, a significant market for the automaker. This could have contributed to the drop in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Porsche's ADR (DRPRY) could also be impacted by the slump in China deliveries, despite the overall positive global delivery numbers.
The slump in China deliveries, a significant market for Porsche, could overshadow the overall positive global delivery numbers and impact the ADR (DRPRY).
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100