保时捷营业利润暴跌99%，卖最好的燃油Macan却要停产

Core Viewpoint - Porsche has reported its most challenging financial results since going public, with a 99% drop in operating profit for the first three quarters and significant losses in its core automotive business [1][6][10]. Financial Performance - The company recorded an operating profit of only 0.4 million euros (approximately 3.31 million yuan) for the first nine months, down from 40.35 billion euros (approximately 333.95 billion yuan) in the same period last year, marking a 99% year-on-year decline [6][10]. - In Q3 alone, Porsche faced an operating loss of 9.66 billion euros (approximately 80 billion yuan) and a net loss of 6 billion euros (approximately 49.7 billion yuan) [1][6][10]. - Total revenue for the first three quarters was 26.864 billion euros (approximately 222.33 billion yuan), a decrease of about 6% year-on-year, consistent with the decline in vehicle deliveries [3][10]. Sales and Market Performance - Porsche delivered 212,509 vehicles globally in the first three quarters, a 6% decrease compared to the previous year, with significant declines in key markets like China, where sales dropped by 26% [2][3][10]. - The North American market showed resilience with a 5% increase in sales, totaling 61,471 vehicles [2][3]. Strategic Adjustments - The company is undergoing strategic adjustments, including a significant shift in its electric vehicle strategy, which involves slowing down the electrification process and focusing on more fuel and hybrid models [14][20]. - Porsche plans to stop production of its best-selling gasoline model, the Macan, in mid-2026, despite its strong sales performance [20][22]. Cost Management and Future Outlook - To mitigate losses, Porsche is implementing cost-cutting measures, including workforce reductions and price increases in the U.S. market to counteract tariff pressures [18][20]. - The company has revised its annual revenue expectations down to 37-38 billion euros (approximately 306-314.5 billion yuan) and profit margins to 0-2% [10][13]. Challenges in Battery Technology - Porsche has halted its in-house battery production plans due to ongoing challenges in battery technology development and reliance on external suppliers [22][23]. - Recent incidents involving battery-related fires in its electric models have raised concerns about safety and reliability [24].