Porsche, the once-glorious brand in the luxury car sector, is now facing unprecedented challenges in the Chinese market. Dealers in Shenzhen are offering the Macan at prices below 400,000 yuan, with the manufacturer's suggested retail price (MSRP) for the 2024 Macan 2.0T at 578,000 yuan now slashed to as low as 358,000 yuan—a 40% discount! 😲 Models like the Taycan and Panamera are also undergoing massive promotions. However, these continuous price cuts have failed to reverse the declining sales trend. 💔

In the first three quarters of this year, Porsche's global sales dropped by 7% year-on-year, with the Chinese market performing even worse, suffering a 29% plunge. Taycan sales plummeted by 50%, while Macan and Panamera sales each fell by 20%. China, once Porsche's largest global market for many consecutive years, has now dropped to third place.

Just last month, Porsche replaced its China market president and CEO. Alexander Pollitsch, the newly appointed leader, faces the daunting task of turning around the sales collapse. Is the market changing too fast, or has Porsche's strategy gone awry? Has product competitiveness declined, or have consumer demands fundamentally shifted? These pressing questions demand urgent answers.