US EditionCrisis-hit Porsche plunges to $1.1 billion quarterly loss
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25 Articles
InsideNoVA.com
Porsche loses almost one billion euros on shift back to petrol
German sports car maker Porsche sunk to a third-quarter loss of almost one billion euros ($1.16 billion), the firm said Friday, as it grappled with the costs returning to petrol and delaying its electric vehicle (EV) rollout.
Porsche publishes the company's current figures – and reports an incredible break in profits.
Although the outgoing Porsche boss is not there when the latest business figures are announced, they are something like a final balance sheet for him as long as he is still there. And that is, at least at first glance, devastating.
Crisis-hit Porsche plunges to $1.1 billion quarterly loss
Porsche swung to a bigger-than-expected operating loss in the third quarter, it said on Friday, plunging the German sports carmaker deeper into crisis as it slows a shift to electric vehicles and battles to stem sinking sales in top market China.
The Stuttgart-based car giant Porsche continues to slide into a crisis: Due to a strategic realignment and problems on the Chinese car market ... The post Sales decline: Porsche posted almost one billion euros in quarterly loss appeared first on Apollo News.
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