POAHY Porsche Automobile Holding SE (PK)

   By Mauro Orru 
 

Porsche AG said Friday that car deliveries fell year-on-year in the first quarter of 2020 due to the coronavirus pandemic.

The sports car marker, which is owned by Volkswagen AG, said it delivered 53,125 cars worldwide in the first quarter, down 5% from 55,700 the previous first quarter.

"After this challenging first quarter, we are now actively preparing to restart production," said Detlev von Platen, member of the executive board for sales and marketing.

"We are confident that the outlook is positive, not least because we see a clear recovery in the Chinese market; almost all of our Porsche centers there have already reopened," he added.

Porsche said China was the single market with the highest number of deliveries in the quarter, accounting for 14,098 units, followed by the U.S. with 11,994 deliveries.

The Cayenne was most popular model, Porsche said, with 18,417 deliveries, and the Macan in second place with 15,547 deliveries.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

April 17, 2020 03:53 ET (07:53 GMT)

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