Porsche Will Significantly Increase Its Prices To Sustain …

Porsche confirmed that it will impose “significant price increases” on its models when it releases the new model year vehicles in the middle of 2023 in a bid to keep its profit margins as high as 20 percent in the long term, as part of its Road-to-20 strategy. The announcement was made by Porsche’s finance head Lutz Meschke during a call with analysts to reassure them that the German luxury brand can sustain and build on the strong operating profits it gained in 2022, which reached a massive $7.27 billion (6.8 billion Euros), with an 18 percent return. “We will see significant price increases in the middle of the year for the new model year. That will help a lot to make sure we make strong group operating margins,” Meschke said, quoted by Autocar. In addition to the price increases that will be applied across the entire lineup, Porsche said it plans on selling its upcoming all-electric Macan, 718 Boxster, and Cayenne at MSRPs that are 10-15 percent higher than the internal combustion engine variants, with the German automaker believing its customers would accept the higher prices.