The news broke that the price of the super luxury sedan Porsche Panamera in China has recently dropped below one million Chinese yuan, making it a hot topic in searches. The Panamera has been experiencing a continuous decline in sales in China for the past three years, with a decrease of up to 50%.
According to a report by a Chinese automotive lifestyle service provider, Autohome, on August 20th, following this price reduction, the Panamera is now priced below one million yuan at 998,000 yuan. This marks the first time in the 17 years since the Panamera entered the Chinese market that the official guidance price has fallen below a million yuan.
The Panamera model that received this price reduction now comes with 20-inch Turbo alloy wheels, ventilated and heated front and rear seats, panoramic sunroof, and BOSE sound system as standard features. Previously, these features were optional extras, each costing at least over 1.2 million yuan.
Just five months ago, Porsche’s CEO stated that they would not engage in a price war in the Chinese market.
The reason behind Porsche’s decision to lower prices and increase sales in China, as mentioned by Autohome, is primarily due to the continuous decline in Porsche’s sales in the country, forcing them to maintain their market share through price reductions and increased sales volume. In 2023, Porsche’s revenue in the Chinese market declined by 19% compared to the previous year, followed by a 34% decline in 2024, and an additional 33% decline in 2025. Over the span of three years, revenue in the Chinese market was almost halved. In 2026, the Panamera only sold 14,500 units in China, showing a 32% decline compared to the previous year.
The price reduction of the Panamera has left car dealers in a dilemma. Some dealers expressed that the fluctuation in new car prices is too significant, with trade-in values changing almost daily.
However, whether the price reduction of the Panamera will help the brand regain its market share remains uncertain as the market is adopting a wait-and-see approach. Some internet users believe that even with a price reduction, the Panamera may not be able to recover its position in the Chinese market, especially under the impact of electric vehicles. Others suggest that with the downward trend of the Chinese economy and the authorities imposing more taxes on the wealthy, even affluent individuals are becoming more cautious with their spending.
Public information indicates that the Panamera is a luxury full-size sedan under Porsche, combining the sportiness of a sports car with the comfort and functionality of a luxury sedan. On March 20, 2026, Porsche launched a new version of the Panamera – the Panamera Enjoy Edition.