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Porsche Plans New Electric Luxury SUV, Aims for Record Revenues for 2022

Porsche has announced today that it plans to introduce a new electric luxury SUV and boost profits in the coming years as the automaker is making efforts to attract investors ahead of its IPO (initial public offering) expected to happen in the fourth quarter of 2022.
Porsche has plans to launch electric luxury SUV 10 photos
Photo: Porsche
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The announcement was made at the Capital Markets Day event organized by the Stuttgart-based automaker at its Research and Development Center in Weissach, Germany, to talk about market results, expansion plans, and sustainability.

Specifically, Porsche aims for a big push in the luxury segment and for revenues of around €38 billion ($38.55 billion) to €39 billion for the full year 2022. They are basing their estimations on the global demand trends for luxury vehicles.

The company's Chief Financial Officer, Lutz Meschke, has also mentioned they are expecting a return on sales of as much as 17-18% in 2022, up two points from last year. In the long-term, they are aiming for a return on sales of more than 20 percent.

The plans to expand Porsche’s vehicle lineup with a new electric luxury sport utility vehicle have been disclosed by CEO Oliver Blume, who suggested the new SUV will be positioned above the Cayenne.

"We plan to add a new luxury, all-electric SUV model to our attractive portfolio, which will roll off the production line in Leipzig. This will further expand our position in the luxury automotive segment. We are targeting the higher margin segments in particular and aim to tap into new sales opportunities in this way," Blume said.

The details about the upcoming high-end electric SUV were scarce, but the brand’s officials did mention that it would be assembled in the same plant as the upcoming Macan EV.

To back its decision to tap into the lucrative high-end SUV market, Porsche has cited some expert studies that predict the luxury car segment will see robust growth in the coming years, with BEVs and SUVs driving this growth.

"We are very well positioned to benefit from these trends. Porsche is a leading player in the market for sporty SUVs and in the all-electric luxury car segment," Porsche’s CEO added.

Porsche’s long-term goal is to deliver over 80 percent of its vehicles as battery electric and become a net carbon neutral organization by 2030.
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About the author: Ancuta Iosub
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After spending a few years as a copy editor, Ancuta decided to put down the eraser and pick up the writer's pencil. Her favorites subjects are unusual car designs, travel trailers and everything related to the great outdoors.
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