The financial and sales results for Porsche, Maserati and Aston Martin for the first half of 2024 show contrasting performances. Porsche demonstrated financial robustness despite a decline in sales, while Maserati and Aston Martin posted sub-par results. New product launches and technological innovation strategies will be crucial to their future success.
The financial and commercial results of carmakers Porsche, Maserati and Aston Martin present a mixed picture for the first half of 2024, with varied performances in terms of sales and earnings.
Porsche demonstrated remarkable financial robustness, recording an operating return on sales of 17.0% in the second quarter. This figure places the Stuttgart-based brand at the top of the sports car segment, despite a timid start to the year. However, the numerous new product launches have led to an expected drop in sales to €19.46 billion, down from €20.43 billion in 2023. Automotive net cash flow amounted to 1.12 billion euros, compared with 2.22 billion euros the previous year.
“In these difficult times, we are financially strong and very profitable,” said Lutz Meschke, Vice Chairman of the Porsche Board of Management and Board Member for Finance and IT. “We owe this to our value-oriented sales strategy and our well-balanced sales structure. This enables us to largely absorb fluctuations in the various markets.”
Maserati, on the other hand, has seen a dramatic fall in sales, from 15,300 units in the first half of 2023 to just 6,500 units in 2024, a drop of over 50%. This is mainly due to the downsizing of their product portfolio, including the discontinuation of the Levante, Ghibli and Quattroporte models.
“The first half was disappointing, but these results are justified by the disappearance of many models from our range,” said Natalie Knight, Maserati’s finance director, concerned for the brand’s future within the Stellantis group.
For its part, Aston Martin also posted increased losses in the second quarter, with a pre-tax loss of 255 million euros, compared with 167 million in the same period last year. Sales fell by 32% to 1,998 units, despite a slight increase in sales of limited-price models such as the Valkyrie and Valour.
Innovations and progress towards electrification
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Featured photo : © Porsche
