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Crisis-hit Porsche plunges to $1.1 billion quarterly loss
Porsche's near €1 billion quarterly loss reflects delayed electric vehicle launches and a 15% U.S. tariff on European cars, compounded by weak sales in China.
- Porsche, the German luxury carmaker, reported a quarterly loss of 967 million euros, following EV pullback and tariffs, Bloomberg reported.
- Executives postponed several all-electric launches and kept internal-combustion production running; Porsche announced last month it will continue making gas-powered Boxster and Cayman models while the 718 model remains slated for an all-electric version.
- Model-Level shifts include the K1 SUV being offered with internal-combustion or hybrid powertrains while Porsche still offers the electrified Taycan but abandoned in-house battery plans.
- With the United States now its top market, Porsche faces hefty fees from U.S. tariffs and is exploring final assembly of some models in the U.S., Bloomberg reports.
- The result marked Porsche's first quarterly loss as a listed company, adding a quarterly operating loss of €967 million to its year-to-date performance.
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Oliver Blume, CEO of the VW Group and outgoing Porsche CEO, sees the sports car manufacturer in a delicate situation.
·Berlin, Germany
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InsideNoVA.com+13 Reposted by 13 other sources
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.
·Germany
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Total News Sources44
Leaning Left6Leaning Right7Center10Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 26%
C 44%
R 30%
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