Porsche Crashes: 96% Profit Plunge Triggers €1B Quarterly Loss – What’s Next?
Why Profits Cratered: Apart from tariffs, Porsche cited a sudden about-face on its EV strategy. In September the company scaled back its electrification plan, shelving plans for a proprietary battery factory and slowing EV projects. These moves triggered one-time charges and raised doubt about future growth. CEO Blume had to admit that Porsche’s “shift to electric vehicles” is slowing, at a time when rivals are racing aheadreuters.com. At the same time, luxury buyers in China – a key market – are tightening their belts; CFO Breckner noted “general market conditions will not improve in the foreseeable future”reuters.com.