Porsche: UK revenue in £300m reverse as car sales slashed
Revenue at the UK division of Porsche was cut by more than £300m in 2024 as it sold 4,000 fewer luxury cars.
New accounts filed with Companies House have revealed the UK arm’s revenue fell from £1.92bn to £1.62bn during its latest financial year.
Over the same period, its pre-tax profit also declined from £44.6m to £39.2m.
The luxury car maker sold 19,393 cars in 2024, down from 23,495.
The fall in Porsche’s UK revenue comes after it spiked from the £1.34bn it achieved in 2022.
Its pre-tax profit also totalled £24.4m in 2022 was it sold 17,940 cars.
Porsche did not pay a dividend for 2024 but in July this year gave a pay out of £150m to its parent company.
Porsche hit by Trump tariffs
In April this year, the wider Porsche group cut its forecasts for 2025 amid fears over the impact of President Donald Trump’s tariffs on the global car industry.
At the time, the luxury sports car maker expected to report a profit margin of between 6.5 to 8.5 per cent this year, down from prior guidance of 10 to 12 per cent.
Revenue was also forecast to come in lower at between €37bn (£31.4bn) and €38bn (£32.3bn).
Porsche said the changes were a result of the “negative impacts” of US tariffs over April and May, which resulted in a hit of at least €100m.
The results for the UK arm of Porsche come after its rival Aston Martin blamed a combination of economic challenges and the ongoing impact of tariffs as it warned sales will fall year on year.
The London-listed company delivered fewer cars than expected in the third quarter of 2025, at 1,430 wholesale units versus 1,641 in the third quarter of 2024.
It attributed the fall to weaker than expected demand including in North America, with the continuing tariff impact, and Asia.
UK car production plunged to its lowest level since 1949 in July after Trump imposed steep tariffs on foreign-made cars.