Porsche’s CFO believes sales of new cars with combustion engines could continue in the European Union beyond 2035, and Lincoln is cutting 100 dealerships in the United States this year.
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Porsche thinks that the combustion engine can survive in the EU after 2035
Porsche Chief Financial Officer Lutz Meschke attended the world premiere of the Macan EV in Singapore this week, where he hinted that the future of the internal combustion engine may not be as bleak as claimed. Speak with Automotive News EuropeThe company’s CFO said: “There are a lot of discussions right now around the end of the internal combustion engine. I think this can be postponed.”
He was referring to the sales ban on new cars with combustion engines in the European Union from 2035. To be clear: the ban concerns cars that cause emissions, so in theory hydrogen combustion engines or engines that can run on synthetic fuels can be allowed. In March 2023, Reuters reported on the European Commission’s proposal to allow the sale of new ICE cars after 2035, provided the vehicles run on climate-neutral fuels.
Later in September, the news agency followed up with a story about another draft requiring car manufacturers to demonstrate that their cars can run entirely on e-fuels that are CO2 neutral.
In the case of Porsche, the Zuffenhausen-based brand expects that by 2030 more than 80 percent of the cars delivered annually worldwide will be electric cars. In the meantime, a petrol model will be prematurely retired in the European Union, where the first generation Macan will disappear. will exist later this year due to upcoming cybersecurity regulations. The second-generation fully electric model will indirectly take its place, but at a much higher price tag.
Lincoln will eliminate 100 dealerships in the US this year
Ford’s luxury brand will further streamline its dealer network in the United States this year. After cutting a hundred dealers last year, another hundred will be cut in 2024. That means Lincoln will have about 400 showrooms by the end of the year.
Most dealers are joined at the hip with a Ford store. Speak with Automotive NewsLincoln President Dianne Craig said Lincoln retailers who agree to the buyout will receive additional Ford inventory in return. Another benefit is offering incentive plans for returning customers.
In 2023, Buick, another American luxury brand, nearly halved its dealer footprint and ended the year with about 1,000 showrooms. Parent company General Motors has forced Buick dealers to decide whether to invest in EV tools and training or accept a buyout. Buick ended 2023 with 47 percent fewer dealers compared to the start of the year.