Automakers have been on a scary rollercoaster ride since the COVID-19 pandemic hit us all back in 2020. While Porsche was no exception, they were able to post record profits in 2022. The Volkswagen Group-owned company is striving to keep this up while synchronously investing in ways to meet the world's carbon neutrality goals.
Porsche is one of the highest valuable automakers that had operating profits of $7.18 billion (converted from 6.8 billion Euros) in 2022. This equates to an 18% return from sales. Through its Road-to-20 strategy, Porsche's goal is to reach a 20% profit margin. With upcoming expenditures peaking in the 2023/2024 fiscal years, some significant price hikes are going to be necessary to maintain momentum.
The Porsche 911 May Price-Out Those Dreaming Of One
As Porsche's flagship model, the 911 models will surely be hit with some substantial price increases. You have, without a doubt, built your perfect Carerra online (maybe several times) with the automaker's extensive build & price tool. You know what options you need, want, and can only dream of having. Luckily, you will not have to give up the ICE powertrain option with the new EV push.
Common upgrades like paint-to-sample deviated stitching packages and Porsche performance upgrades may be out of reach for some potential customers very soon. Now is not the time to settle for a base 911 with no options. This is why we encourage you to jump on that deposit now! Lock in your dream Porsche 911 Carrera, Turbo S, or GT3 before it is too late. The 2023 Porsche 911 starts with an MSRP of $106,100 and tops out at over $250,000 for the highly exclusive and wilder sports cars.
Porsche Cayenne And Macan SUVs Need The Profits To Get Electrified
These two larger 4-door Porsche models are part of the reason for pushing up prices. The Macan is due to hit on a full EV trim in 2024, while the Cayenne is slated for the same in 2026. A good portion of Porsche's efforts is going into its SUV category. Some of that is due to the company's focus on the US market.
The stateside consumer has been steering toward bulkier models lately and cannibalizing the sedan segment. The expenses in research & development for electrifying Porsche SUVs and the rest of its lineup are eroding the bottom line. 50% of Porsche models are expected to be driven by electricity by 2025. That number is expected to reach 80% by 2030.
Porsche stated in their annual press conference that a 10-15% increase is expected for electrified versions of the Cayenne, Macan, and 718 Boxter. This is assuming they will still have an ICE powertrain available. In the meantime, current models will be receiving price increases starting later this year in order to fund the new EV options. Today, you can get a 2023 Porsche Macan for $57,500 and a 2023 Cayenne SUV for $72,200.
An EV Push Is Killing The Porsche 718
The smaller, entry-level, 2-door Porsche Cayman and Boxter models have always been overshadowed by their 911 big brother. However, a debate has ensued in favor of this mid-engined track star with perfect balance and manageable driving manners. It is also one of the last sports cars you can option with a manual, but that may all come to an unfortunate end.
Last year Porsche announced that, by 2025, the Cayman and Boxter platforms will be electric only. This will leave you with the 911 as the only legacy powertrain option, which they have no plans to eliminate. If you have planned to own one of these spectacular sports cars, you better jump on a Porsche 718 right now before they go silent.
You cannot beat the sound of a boxer engine. Whether your 718 Cayman is the turbo 4-cylinder, or the 4.0L flat-six in the GTS, GT4, and GT4 RS trims, you will be rewarded with a symphony of performance. Some may like that electric motor whine at higher speeds, but we prefer a sexy exhaust note. If you are reading this, chances are, you do too. The 2023 718 Cayman is the cheapest fun Porsche sports car you can get today and starts with an MSRP of $63,400. The top-spec 718 Boxter GTS 4.0 Cabriolet starts at $92,400.
The Porsche Taycan Is An EV We Are Excited About
This thing rocks! Apparently, some of you think so too. In 2021, the Taycan was Porsche's number 3 selling model. Sales for the full EV sedan only fell behind the Macan and Cayenne SUVs, beating the flagship Porsche 911. Top that off with performance and design accolades that make a Tesla look like a toy car, and you have a winner in the electric car space.
As an EV, the Porsche Taycan will not come with the pitfalls of eliminating a glorious ICE powertrain. However, it will certainly be seeing its own price hikes with the other models. This luxury sedan can be optioned as a wagon Porsche calls a Cross Turismo (Sport Turismo if you opt for the GTS trim). The Taycan is also packed with a long list of tech options and a wild palette of colors. Currently, the 2023 Porsche Taycan starts with an MSRP of $86,700.
No matter what your taste, all these Porsche models will soon be more expensive. Get on the website now to build out your dream. Then, save the build number, and forward that to the dealership of your choice. They will take it from there to get your order placed before these price increases blow your budget. What are you waiting for? Get it done!
Sources: Autocar, Porsche