Porsche’s profit plummeted in the first three quarters of this year. This is mainly due to the brand’s shift in strategy for electric vehicle production, but also because of US import tariffs and declining demand in China.
Recently, the launch of new electric models was postponed, and Porsche scrapped a program for building its own batteries. Given the “market reality and customer needs,” the combustion engine is making a comeback and will remain necessary well into the next decade, according to the brand.
After-tax profit for the months of January through September amounted to 114 million euros, Porsche reported on Friday. In the same months of 2024, this was nearly 2.8 billion euros.
Earlier this month, the brand announced that it sold 212,509 cars in the first nine months of this year, a decline of 6 percent. Particularly in China, fewer cars were sold.