Newscasts - Porsche shares plunge after delayed EV launch hits guidance

Porsche Automobil Holding SE

22/09/2025 11:04

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Source: 'Reuters - Business videos'

Description: Shares in Porsche plunged by 4.1% on Monday after the German luxury sports carmaker dialled back the rollout of electric models due to weak demand and slashed its 2025 profitability outlook. Ciara Lee reports.

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Video Transcript:

Shares in Porsche fell over 4% on Monday. That was after the German luxury sports carmaker announced a delay in the launch of some all-electric models on Friday due to weak demand. It also slashed its profitability outlook for this year. It's further signs of trouble for the company, whose profits were nearly wiped out completely in the second quarter. It's under pressure in its key market China, while also dealing with higher US tariffs. Porsche now expects its profit margin this year to reach a maximum of 2%. That's down from a previously guided range of 5% to 7%. Its parent Volkswagen said it would take a $6 billion hit from the product overhaul at Porsche.