Published 1 month ago • loading... • Updated 1 month ago

Porsche overhauls line-up to bring back combustion engines

Porsche is investing €800 million in combustion engines and hybrids due to declining demand for electric vehicles, impacting profits this year.
Shares in Porsche fell 6% after announcing profit margins expected between 10% and 12%, below the target of 20%.
Deliveries dropped 3% last year, with a 28% decline in China, as Porsche struggled against local EV competitors.
Analysts noted that Porsche's decision to invest in combustion engines is a response to lower demand and that it plans to adapt production capacity.

Insights by Ground AI

Does this summary seem wrong?

17 Articles

All

Left

Center

Right

Electrek

Porsche will launch new gas-powered cars, because profits come first (for now)

Porsche will launch new gas-powered and plug-in hybrid (PHEV) cars as its EV models fail to gain traction. The sports...

1 month ago

Read Full Article

GB News

Porsche to back petrol cars despite Rachel Reeves threatening £15,000 penalty per vehicle

Porsche is set to expand its petrol car range despite the UK pushing towards electric vehicles and net zero goals and looming penalties

1 month ago·London, United Kingdom

Read Full Article

Welt

Porsche recognizes the electric reality – and becomes a pioneer for the burner comeback

Porsche surprisingly announces a radical strategy shift: New billions are to flow into combustion engines in particular. It's nothing more than a turning away from the idea of soon separating from this drive – and the blueprint that all competitors will follow.

1 month ago·Dortmund, Germany

Read Full Article

n-tv.de

Strategy shift to combustion engines: Porsche falls to all-time low after electric withdrawal

Porsche is changing course. The sports car manufacturer from Stuttgart wants to focus more on combustion engines again. Investors are punishing the shares heavily as a result. Analysts, on the other hand, welcome the fact that the company is "adapting to the new reality".

1 month ago

Read Full Article

Zeit Online

VW subsidiary: Porsche wants to produce more combustion engines again

Porsche's profits are declining. The board is reacting: the company should become more efficient, and more combustion engines should increase results.

1 month ago·Germany

Read Full Article

Tagesschau

More combustion engines at Porsche again

Porsche is responding to the weakening business with an expensive savings and investment program. The sports car manufacturer also wants to turn things around with new combustion engine models.

1 month ago·Hamburg, Germany

Read Full Article

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/year