Time is up for the diesel Porsche as the company announces its retirement.
Porsche CEO Oliver Blume made the announcement on Monday that the company will no longer release diesel Porsche variants. According to the company’s CEO, diesel was always secondary for it.
Blume makes clear in his statement that the death of the diesel Porsche isn’t an effort by the company to “demonizing” the fuel. Instead, he simply states that Porsche is more interested in being a diesel-free company.
While it was never brought up, it could be that concerns about emissions is part of the reason the diesel Porsche is no longer being made. Issues with false diesel have been troublesome for Porsche parent company Volkswagen, reports Cnet.
It could also simply just be that diesel Porsche sales weren’t as strong as the company wanted. For example, sales of diesel Porsche vehicles only made up 12% of the company’s total sales across the world in 2017.
There’s also the fact that Porsche is looking to focus more on electric vehicles (EV). The company is planning to release its first EV next year. This is the Taycan. The company goes so far as to say that every second new vehicle coming out by 2025 may be electric, Top Gear notes.
Here are some Twitter (NYSE:TWTR) reactions to news of the diesel Porsche death.
- “There goes my plans to buy a Porsche Diesel car. And don’t try to persuade me to buy the petrol one. If Porsche don’t change their mind. They’ve lost me as a prospective customer.”
- “No Porsche diesel in the long term, not a big surprise being honest given all the faf in recent times with manufacturers….”
- “Good move….as they just continually cheated to get results and power they wanted using diesel.”
As of this writing, William White did not hold a position in any of the aforementioned securities.
