Reported about 8 hours ago
Porsche AG's shares dropped 7% on Friday, marking their largest decline since the company's market debut, following a warning that new model costs and battery expenses would negatively impact profit margins in 2025. The carmaker announced an expected profit margin of only 10-12%, significantly below analyst predictions and its mid-term goals. Additionally, Porsche is facing challenges in the electric vehicle market and declining sales in its key market, China, resulting in a substantial decrease in market capitalization.
Source: YAHOO