Reported about 14 hours ago
Porsche has released disappointing results for the first nine months of the year, reporting a 6% drop in sales revenue to €26.86 billion and a 99% plunge in operating profit to €40 million. The company attributes these results to tariff impacts and a recalibration of its product strategy in the US and China, with expectations for overall sales revenue to fall between €37 and €38 billion. Additionally, Porsche is adjusting its powertrain strategy and reducing its dealership presence in China to address challenging market conditions.
Source: YAHOO