Porsche’s China Sales Slump by a Fifth on Muted Luxury Demand

Porsche AG’s sales in China fell 21% during the third quarter, as luxury demand in the country remains weak and local manufacturers dominate on electric vehicles.

The drop held back the 911 maker’s global shipments, which declined 5.7% to just over 66,000 vehicles in the period. Mercedes-Benz Group AG and BMW AG also reportedwaning deliveries in China this week, highlighting the troubles of Germany’s export-focused auto industry.

Western manufacturers are losing ground in the world’s biggest car market to homegrown rivals such as BYD Co. and Xiaomi Corp., whose feature-packed EVs are undercutting them on price. Fierce ...