While most automakers present their new all-electric models, Porsche’s 911 model will continue to roar with an internal combustion engine for now. So far, the Stuttgart company has released only one fully electric model, clearly keeping its distance from the spirit of the times. Despite this – or possibly because of it – 75 years after its first sports car, Porsche is more successful than ever. But when electrification takes hold, will the success continue?

The principle of success

35 hp, a weight of less than 600 kg and a top speed of 135 km/h: what today does not sound like a sports car was a small technological revolution in 1948. With its round lights and elegant shape, the Porsche 356 is reminiscent of her successors. On this day, June 8, 1948, the first Porsche sports car was born in Gmid, Austria.

Since then the company has achieved a lot, creating in 1963 the 911 and knowing racing successes and a great growth. Despite the decline of the 1990s and the missed opportunity to acquire Volkswagen, Porsche succeeded in other areas as well, such as in the SUV segment, with the Cayenne model setting sales records.

Over the decades, the distinctive horse logo has been in use since 1952. And, although the company unveiled a modernized version of it at the beginning of June, the references to Stuttgart, the gold background and the black and red lines have largely remained degree unchanged.

Dedicated Porsche enthusiasts

As business psychologist Rüdiger Hosiep from the University of Bochum observes, the same is true of Porsche customers, who he describes as follows: “Porsche drivers want to convey the message that they are solvent, sporty and cheerful. Many – especially men – also fulfill a youthful dream in this way.” Porsche itself also refers to its loyal clientele, which has not changed even with the opening to SUVs. Furthermore, with the presentation of the unique purely electric Taycan model, new groups of customers were also attracted.

According to studies by Hosiep, Porsche drivers focus, among other things, significantly more than the average driver on the sporty style, the charm and appearance of the car and the enjoyment of the driving experience. Instead, they care less about regulatory compliance, security and functionality.

As car expert Ferdinand Dudenheffer says, a Porsche is “a toy for people who earn good money and want to show that they’re having fun in life.” Furthermore, Porsche customers are also people who like to scorn the conventional way of life and present themselves as entrepreneurs. This is one of the reasons why Finance Minister Christian Lindner (FDP) is so enamored with Porsche.

A highly profitable “game”

That with such a “game” a company can make a big profit is also shown by the current figures of the Zuffenhausen company. Profits are growing steadily and most car manufacturers can only dream of a profit margin of 18.2%. Moreover, less than a year after its IPO, Porsche’s stock market valuation has long surpassed that of parent company VW.

But what will change when the engine no longer roars and runs on battery power? For Hosiep, this will not match the sporty style and “life with an electric Porsche sports car will not make sense”. For sports car drivers, feel, smell and noise are an integral part of a sporty driving experience.

Dudenheffer, however, has a somewhat different view: electric cars have better acceleration than a conventional vehicle, which again matches the capacity. “The era when speed was inextricably linked to noise is coming to an end. And in that respect, I think Porsche will survive.”

Steps towards electrification

80% of new Porsche vehicles are to be purely electric by 2030. However, this target appeared to be slipping away in 2022 as significantly fewer Taycan models were sold and the share of electrified cars fell from 13.7% to 11%. Furthermore, the downward trend continued into early 2023.

At the same time, Porsche is investing in its own e-Fuels production in Chile and is relying on the potentially climate-friendly fuel to decarbonize its large fleet.

However, the aim is likely to continue sales of the classic 911. According to the company, there will not be an all-electric version of this model, at least as it stands today, and the availability of 911 models will continue as long as the regulatory framework allows. However, a hybrid, sporty version of the 911 is also being considered.