Porsche Culls Gas 718. Will History Repeat?
Dubious Porsche 718 Decision Eerily Similar to its 1970s Fiasco
While its Taycan EV sales tanked by over half in line with the global flop in electric car sales in the first half of 2024, Porsche has astounded many an industry observer with this week’s news that it will cull gasoline powered 718 Cayman and Boxter production. It’s a move that not only flies in the face of current carmaker wisdom to pare back on EV expectations, but it also seems an eerie case of Porsche history repeats.
News of the end of the combustion 718 comes hot on the heels a general fall in EV demand. Of the luxury carmakers, only BMW realised a 36% growth in EV sales over the past six months, based mainly on new model activity. Audi reported EV sales to be flat, while Mercedes-EQ deliveries slipped some 17%. Worst of all, Porsche’s own Taycan slumped by 51%. All this of course at a time when EVs were predicted to boom.
Doomed 718 Sales Have grown 8% This Year
Most intriguingly, the still all-gas 718 and Porsche’s 911 sportscars both gained a respective 8% of sales so far this year. For the rest however, global Porsche sales dropped by 7 percent from January to June. As an aside, Porsche also recently cut Taycan production. “Because all of the early adopters who wanted one, have already bought one,” according to the brand’s hometown newspaper, Stuttgarter Nachrichten.
In spite of all the above, Porsche production manager Albrecht Reimold this week told another German publication Automobilwoche, that internal-combustion 718 Cayman and 718 Boxster production will end in 2025. This to make way for a new range of all-electric 718 Cayman EV replacement models next year. Causing more than one observer to scratch their heads.
Call Reeks of a 1970s Porsche Fiasco
This is not the first time that Porsche management has ignored market trends. Previous management also did its own thing, to its own destruction. That last time it almost cost the company its shorts. Half a century ago, Porsche AG went public and elected an executive board tabled only by members from outside of the Porsche family. That prompted the likes of scions FA Porsche and Ferdinand Piëch to seek greener pastures.
Porsche AG’s first CEO, long-time engineer Ernst Fuhrmann took the reins. Right away, he plotted to kill Porsche’s bestselling 911. His grand plan was to see the Porsche icon replaced by front engined grand coupes. Like the Audi-powered 924. A 300 HP front engined V8 Porsche 928 indeed followed, before the 944 and 944 Turbo were inserted above the 924 in ’82.
Are We Thinking What Our Grandparents Did?
Against Fuhrmann’s better judgement, 911 demand remained extreme and history soon proved the errors of his ways. The 928, the 924 and the 944 had all disappeared from the market by the mid-1990s. Yet the 911 remains the bastion of Porsche with perpetual dream maker demand ensuring that production continues to this day. In fact, the 911, and the 718 were the only Porsches to grow in sales in the first half of 2024.
Mr Fuhrmann’s Porsche rein did not last very much longer. He was soon replaced by arch 911 enthusiast Peter W Schutz. The rest, as they say, is history.
Fast forward to 2024, and many an observer may be thinking the precise same ‘what the hell’ that their grandparents probably thought fifty years ago. Where it all goes from here, remains to be seen. But judging by current market trends and the clear popularity the gas 718 continues to enjoy, could history be set to repeat at Zufferhausen? Time will tell!
Images: Porsche