保时捷今年前三季度营业利润同比暴跌99%！发生了什么？

Core Insights - Porsche's operating profit for the first three quarters of this year plummeted by 99% to €40 million (approximately ¥331 million), down from €4.035 billion (approximately ¥33.4 billion) in the same period last year [1][2] - The company's sales return rate dropped to 0.2%, compared to 14.1% in the previous year [2] - Key factors contributing to the decline include special expenses from product strategy restructuring, challenges in the Chinese luxury car market, increased costs from U.S. import tariffs, and one-time impacts related to battery business [2][3] Financial Performance - Porsche's revenue for the first three quarters was €26.86 billion, a 6% year-on-year decline [2] - Total sales volume decreased by 6% to 212,500 units, with significant drops in key markets: a 26% decline in China (32,000 units) and a 16% decline in Germany (22,500 units) [2] - The company anticipates a significant improvement starting in 2026 after a projected bottoming out in 2025 [6] Strategic Adjustments - Porsche announced a structural reduction, planning to cut approximately 1,900 jobs at its Stuttgart headquarters by 2029, alongside the expiration of contracts for 2,000 temporary employees [3] - The company is postponing the launch of certain electric vehicle models and extending the market lifecycle of several fuel and hybrid models [5] - Porsche plans to increase prices in the U.S. market to offset the impact of tariffs, which have added €300 million in costs in the first nine months of the year [7] Industry Context - Other luxury car manufacturers are also facing challenges, with Mercedes-Benz reporting a 12% decline in global sales for Q3 and a 9% drop for the first three quarters [4] - BMW has lowered its 2025 performance expectations due to ongoing sales weakness and increased tariff costs [4] Leadership Changes - Porsche announced a leadership change, with current CEO Oliver Blume set to step down at the end of the year, to be succeeded by Michael Leiters starting January 1, 2026 [7]