暴跌99%！传统豪车巨头，发生了什么？

Core Viewpoint - Porsche's financial performance has drastically declined, with a 99% drop in operating profit for the first three quarters of the year, attributed to strategic restructuring costs, challenges in the luxury car market in China, and increased import tariffs in the U.S. [1][3] Financial Performance - For the first three quarters of the year, Porsche reported revenue of €26.86 billion, a 6% year-on-year decline [3] - Operating profit fell to €40 million, down from €4.035 billion in the same period last year, resulting in a sales return rate of 0.2%, compared to 14.1% last year [3][4] - The company faced approximately €2.7 billion in additional costs due to restructuring measures [4] Market Challenges - Porsche's sales volume decreased by 6% to 212,500 units, with significant declines in key markets: a 26% drop in China (32,000 units) and a 16% drop in Germany (22,500 units) [3][4] - Other luxury car manufacturers, such as Mercedes-Benz and BMW, are also experiencing sales declines and have announced cost-cutting measures [5] Strategic Adjustments - Porsche plans to expand its internal combustion engine and plug-in hybrid model lineup, delaying the launch of some electric models and restructuring its electric vehicle development strategy [7] - The company is also increasing prices in the U.S. market to offset tariff impacts, which have added €300 million in costs in the first nine months of the year [8] Organizational Changes - Porsche is initiating 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 [4] - A leadership change is set to occur, with the current CEO stepping down at the end of the year, and a new CEO taking over in January 2026 [8] Future Outlook - Porsche aims to improve its profitability starting in 2026 after a projected bottoming out in 2025, with a target sales return rate of up to 2% [8] - The company emphasizes the importance of long-term resilience and profitability despite short-term financial challenges [9]