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Core Viewpoint - Porsche is experiencing a significant decline in financial performance, with a 99% drop in operating profit and a 6% decrease in sales revenue, marking a dramatic fall from its previous status as a leading luxury car brand [4][10][11]. Financial Performance - In the first three quarters of 2025, Porsche reported sales revenue of €26.86 billion, a 6% year-on-year decline [8][10]. - The operating profit plummeted to €4 million, down from €4.035 billion in the same period last year, representing a 99% decrease [10][11]. - The third quarter alone saw an operating loss of €966 million, contrasting with a profit of €974 million in the previous year [4][10]. Market Position and Historical Context - Two years prior, Porsche was celebrated as a top performer in the European capital market, achieving a valuation of €75 billion during its IPO [5]. - At its peak, Porsche's market value exceeded €83 billion, ranking among the top ten most valuable luxury brands globally [5]. - The brand's sales in China, once its largest market, have drastically declined, with a 26% drop in the first three quarters of 2025 [15][17]. Strategic Challenges - Porsche's current struggles are attributed to multiple pressures, including the shift towards electric vehicles, changing market dynamics, and evolving consumer preferences [6][22]. - The company has postponed the launch of certain electric models and extended the lifecycle of several fuel and hybrid models, indicating a strategic pivot back to traditional internal combustion engines [22][30]. - The decision to halt its battery production plan resulted in a restructuring cost of approximately €2.7 billion, directly impacting profitability [22][30]. Competitive Landscape - The luxury car market is becoming increasingly competitive, particularly in China, where domestic brands are aggressively capturing market share [27]. - Porsche's traditional luxury definition is being challenged by local competitors offering similar features at lower prices [27]. Organizational Changes - Porsche is undergoing significant internal restructuring, including a planned reduction of 1,900 jobs and the appointment of a new CEO, Michael Leiters, who is expected to lead the company through its transformation [31][33]. - The company aims to enhance its product offerings by focusing on personalization and understanding consumer needs better [30][31].