Porsche warned that supply chain problems were hampering battery-electric vehicle (BEV) production and pointed to slower growth in Europe and China, but kept its BEV sales target on the basis that luxury demand was more resilient to downturns.
The carmaker is facing "major challenges" in securing special parts such as high voltage heaters, Chief Financial Officer Lutz Meschke said on Wednesday after the automaker released half-year results.
CEO Oliver Blume said: "There is no week where we have no supply chain issue. We have to be very flexible."
The supply issue cast a shadow over Porsche's ability to hit its target for BEVs to account for around 12-14 percent of total sales.
Meschke said Porsche would require a far better supply situation in the second half to hit its EV target.
However, he said investors need not fear for Porsche's performance in the second half despite a tense and volatile outlook for the global economy.
"We can be very confident because we have a very strong order bank, a very satisfying order intake -- there is no need to fear regarding the second half," Meschke said.
Higher profits, deliveries
Porsche reported an 11 percent rise in operating profit to 3.85 billion euros ($4.25 billion) for the first half, with revenue up 14 percent to 20.43 billion euros.
Deliveries were 15 percent higher than last year, signaling a recovery from the dent to output in the same period last year caused in part by lockdowns in China.
Looking ahead, Porsche said the recovery in the Chinese market was not progressing as expected, and that it foresaw a slowdown in the German market despite strong growth this year so far.
Still, the luxury market was more resilient than the mass market, Blume said, and the company had so far managed to offset higher costs by keeping pricing consistent on rising sales.
Its operating return on sales was 19.5 percent in the second quarter but 18.9 percent for the first half, below last year's 19.4 percent.
