There’s big news today for Porsche (P911.DE) fans, and investors, as the luxury performance brand heads into the new year.
Reuters reports Porsche is in talks with Google (GOOG, GOOGL) about fully integrating software like Google Maps and Google Assistant in the car’s cabin. This would allow users access to Google software natively in the car, without having to load Android Auto or any kind of projection software.
The embedded Google software package is known as Google Automotive Services (GAS), and is used by automakers GM (GM), Ford (F), and Nissan currently. Polestar, which is owned by Volvo and Ghina’s Geely, is even more deeply integrated with Google, using the company’s Android Automotive software to power its infotainment system.
Per Reuters, Porsche was reluctant to use Google software in the past over concerns of data sharing, but those issues seem to be in the process of getting resolved.
Yahoo Finance reached out to Porsche but the company did not immediately respond for comment.
Record 2022 for Porsche
Earlier today, Porsche issued its final delivery numbers for 2022, posting a 3% jump in global deliveries on the way to another record year.
Porsche, which is now the most valuable European automaker by market cap, reported global deliveries of 309,884. China was Porsche’s number one market by volume, though it saw sales dip by 2%. Europe (excluding Germany) saw its share jump 7%, Porsche’s home market Germany climbed 3%, while North America was flat.
Speaking of North America, sales in the U.S. hit a record 70,065 cars. The iconic Porsche 911 and Cayenne SUV saw deliveries increase in 2022, while the Macan SUV and 718 sports cars dipped slightly.
Another car that had a surprising dip in delivers was the Taycan EV, Porsche’s sole battery electric at the moment. Though sales fell to 7,271 units, or 22.8%, Porsche says it was not because of a lack of demand.
Porsche noted demand for the Taycan in the U.S. “remained strong” as supply chain issues slowed deliveries. And it wasn’t just in the U.S. where Porsche faced these supply chain issues.
“The many challenges caused by the war in Ukraine, interrupted supply chains and the ongoing semiconductor crisis have shaped the past year and put us to the test,” said Detlev von Platen, Porsche executive board member for sales and marketing, said in a statement regarding global deliveries. “So I am all the prouder of the entire Porsche team.”
As for Porsche prospects in the U.S., it’s possible the Taycan EV and upcoming Macan EV could see rising demand, as new rules regarding leases and federal tax credits may come into play. Currently the IRS interpretation of the federal EV tax credit allows its use with commercial leases (where a bank or finance company owns the vehicle), which may allow the lessee to get a lower payment without having to meet income cap or country of origin requirements.