Tag: $Porsche AG

 Porsche ​SE (PSHG_p.DE), announced increased investments in defence on Thursday after bearing the brunt of a drop in ‌2025 earnings at its core investments Volkswagen and Porsche AG (P911_p.DE).

Porsche (P911_p.DE), shares were down 7.5% by late morning on Monday after the carmaker dialled back its electric vehicle rollout and cut guidance in a costly strategy reversal prompted by weak demand.

Porsche AG plans to cut thousands of jobs over the coming years as part of a plan to become more efficient as it warned that investments and costs of reshaping the company will hit earnings this year.

The carmaker blamed the job losses on lacklustre demand for electric vehicles and “challenging geopolitical and economic conditions”.

Porsche AG shares slid Friday after the German sports-car maker warned that profits will be hurt this year as it spends more on expanding its line-up of new cars.

Porsche has revealed a drop of more than a quarter in its deliveries to Chinese customers, as a “challenging economic situation” in the country continues to bite.

Porsche will pare back its dealership network in China, reflecting persisting weak demand in the world’s biggest auto market that has severely hit European carmakers and forced them to cut costs to soften the blow to profit margins.

A massive battery recycling plant is being built in Germany by Cylib, a startup looking to reduce waste from EV batteries that have reached the end of their life.

 Porsche said on Wednesday it was fighting to restore production volumes and re-prioritise spending towards a more flexible product line-up after months of supply chain snags, slow EV demand and a sales slump in China.

German sportscar maker Porsche said on Tuesday that global vehicle deliveries were down 7% in the first half of the year compared to the same period in 2023, primarily driven by a 33% year-on-year drop in China.

The German luxury automaker said it expects an operating return on sales of between 15% and 17% in 2024, down from the 18% margin notched in 2023 and 2022.

BERLIN, Oct 25 (Reuters) – Porsche AG shares on Wednesday hit a one-year low since its listing last September as the carmaker warned the luxury sector was also feeling the hit of dampened consumer spending as interest rates rise.

Porsche AG and Mobileye Global Inc. announced a partnership Tuesday, saying that future Porsches will be outfitted with Mobileye’s advanced driver-assistance systems.