Porsche AG unveiled an electric version of its popular Cayenne sport utility vehicle, one of the models developed under an ambitious EV push that the luxury-car maker has since scrapped. https://t.co/8MmgLVOs5w ...

Core Insights - Ferrari N.V.'s Purosangue is a significant growth catalyst for the company, expected to continue its strong performance into 2025 [1] - The Purosangue's demand has positively impacted Ferrari's product mix and margins, showcasing the brand's ability to expand without losing exclusivity [1][3] - The model's successful integration of performance and practicality has resonated well with global buyers, reinforcing Ferrari's brand prestige [2] Company Performance - In Q3, the Purosangue, along with other models like the 296 GTS and the 12Cilindri family, contributed to a total of 3,401 unit deliveries for Ferrari [3][9] - The Purosangue's production is tightly controlled to maintain rarity, which supports pricing strength and brand exclusivity [2][9] - A robust order book for the Purosangue indicates strong future demand, positioning it as a key pillar in Ferrari's modern era [3] Industry Context - The luxury SUV market is becoming increasingly important for automakers, with companies like Porsche leveraging their SUV portfolios for sales growth [4] - In contrast, Aston Martin has faced challenges with its DBX model, which has not met initial sales expectations, highlighting the competitive landscape in the ultra-luxury SUV segment [5]

Core Viewpoint - Porsche, once hailed as the "most profitable car company in the world," is facing a severe operational crisis, with profits plummeting by 99% and a significant loss reported in the third quarter of 2025 [1][2]. Financial Performance - In the first three quarters of 2025, Porsche reported a loss of €9.66 billion (approximately ¥80 billion) and a drastic decline in sales profit from €40.35 billion to €40 million year-on-year, marking a 99% drop [1][2]. - The company's operating revenue for the first nine months of 2025 was approximately €26.86 billion, a 6% decrease compared to the previous year [2]. - The gross margin per vehicle fell to 13.2% in Q3 2025, the lowest for the year, indicating a significant erosion of brand value [2][4]. Market Dynamics - The Chinese market, once a key driver for Porsche, has seen a continuous decline in sales, dropping from 95,700 units in 2021 to 32,000 units in the first three quarters of 2025, a 26% year-on-year decrease [4][5]. - While the U.S. market showed some growth with 64,446 units delivered in the first three quarters of 2025, the impact of tariffs has diminished this growth, with additional costs reaching €300 million [4][5]. Strategic Challenges - Porsche's profit collapse is attributed to a combination of strategic missteps, external shocks, and market misjudgments [5][6]. - The company has shifted its strategy from a focus on electric vehicles to a more diversified approach, which has led to significant restructuring costs amounting to €2.7 billion in the first three quarters of 2025 [6][8]. - The management's decision to delay electric vehicle launches and extend the lifecycle of combustion engine models has resulted in a disconnect with market demands [8][10]. Management Changes - The announcement of the end of the "shared CEO" model and the potential appointment of Michael Leiters, who has extensive experience in product development, has raised market expectations for a turnaround [9][10]. Historical Context - Porsche has faced crises before, notably in the 1990s, and successfully revived its brand with the introduction of the Boxster, which attracted younger consumers [10][12]. - The current crisis is seen as a pivotal moment for Porsche, with the need to balance new energy product capabilities, intelligent experiences, and brand value to navigate the evolving market landscape [12][14]. Future Outlook - The company aims to regain its footing in the Chinese market by focusing on younger, digitally-savvy consumers and optimizing its dealer network [12][14]. - The success of Porsche's turnaround efforts will depend on its ability to adapt to changing consumer preferences and market conditions, particularly in the context of increasing competition in the electric vehicle space [12][14].

Core Insights - Porsche reported a significant loss of €966 million (approximately ¥8 billion) in Q3, with profits plummeting 99% from €4 billion in the same period last year to just €40 million [1][3] - The decline in sales and profits has raised concerns about Porsche's market position, leading to discussions about its ability to recover through new product launches [1][3] Financial Performance - Q3 sales revenue was €8.7 billion, below market expectations of €9 billion, with a total revenue of approximately €26.86 billion for the first three quarters, a 6% year-on-year decline [1][3] - Deliveries in the first three quarters totaled 212,509 units, a 6% decrease compared to the previous year, with notable declines in key markets such as China, where sales dropped 26% [2][4] Strategic Challenges - Porsche's losses are attributed to past strategic decisions, including the postponement of electric vehicle launches and the extension of the lifecycle for several fuel and hybrid models, resulting in additional costs of approximately €2.7 billion [3][4] - The U.S. tariff policy has further pressured Porsche's performance, with an estimated additional cost of €300 million in the first three quarters of 2025, leading to a projected total loss of €700 million for the year [4] Market Dynamics - Despite the challenges, Porsche achieved record delivery numbers in the U.S. market, with sales increasing by 5% to 64,446 units, contrasting with a 26% decline in China [4][5] - The company is facing intense competition in the entry-level segment, with competitors offering superior price, quality, and emotional value, leading to a loss of younger customers [7][10] Product Development and Innovation - Porsche has not introduced a new flagship model in over a decade, leading to concerns about its product lineup and market appeal [5][11] - The electric vehicle strategy has been inconsistent, with the flagship electric model Taycan experiencing a 10% decline in sales, and the new electric Macan facing delays and challenges in the competitive Chinese market [8][10] Future Outlook - Porsche plans to optimize its organizational structure, with plans to lay off 1,900 employees and cut 2,000 temporary positions by 2025 [4][11] - The company anticipates that its performance will hit bottom this year, with expectations of significant improvement starting in 2026, although this is still far from its historical profit margins of 15% [4][11]

This story was originally published on CFO.com. To receive daily news and insights, subscribe to our free daily CFO.com newsletter. The Trial Balance is CFO.com’s weekly preview of stories, stats and events to help you prepare. Part 1 — Porsche’s role in the auto industry’s EV reset Porsche finance leadership is currently steering through one of its toughest years as the company, and, like many of its competitors, is reversing course on its EV strategy. After making a massive EV push, Porsche is facing w ...

Core Insights - Porsche reported disappointing results for the first nine months of the year, attributing this to charges taken last quarter as part of a product strategy realignment in response to changing market conditions in the US and China [1] Financial Performance - Sales revenue for the first three quarters was 26.86 billion euros ($31.22 billion), a decrease of 6% year-over-year [2] - Operating profit fell to 40 million euros ($46.50), down 99% compared to the previous year, with the operating return on sales (ROS) dropping to 0.2% from 14.1% [2] - For the full year, Porsche now projects global sales revenue of 37 to 38 billion euros, revised down from a prior estimate of 40.1 billion euros, with a return on sales expected to be "slightly positive to 2%" [3] Cost Projections - The company anticipates lineup changes and other costs to total around 3.2 billion euros ($3.72 billion) this year, including up to 1.8 billion euros ($2.09 billion) for adjustments to its new electric vehicle platform [4] - The tariff impact for the year is projected to be around 700 million euros ($813.67 million) [5] Market Conditions - In North America, a small decline in sales was noted due to temporarily lower imports after high inventory levels at the end of Q2 [7] - The Chinese market continues to face challenging conditions, particularly in the luxury segment, prompting Porsche to cut dealerships and reduce costs [7] Leadership Changes - Porsche CEO Oliver Blume will step down, with Michael Leiters, former McLaren chief executive, set to take over starting January 1 of next year [8]

"作为保时捷股份公司首席执行官，奥博穆博士在充满挑战的时期勇担重任，成功领导了保时捷股份公司。保时捷股份公司监事会对其卓越贡献表示诚挚感 谢。他将继续担任大众汽车集团首席执行官，我们期待与他继续保持紧密互信的合作。"保时捷股份公司监事会主席沃尔夫冈·保时捷（Dr. Wolfgang Porsche）表示。 在过往十年中，保时捷曾多次成为世界上最赚钱的汽车公司，并且在2022年实现上市。保时捷方面认为，奥博穆以前瞻性视野为保时捷执行董事会完成了新 老交替的战略布局。针对公司现状，奥博穆表示："保时捷两大核心市场——美国与中国，正面临重大变化，对保时捷的商业模式提出新要求。为此，保时 捷今年完成了组织架构调整，并全面升级产品战略。凭借灵活的产品驱动系统战略与优化的成本结构，保时捷已为未来奠定坚实基础。作为大众汽车集团首 席执行官，我将密切关注并支持保时捷的未来发展。" 日前，保时捷股份公司监事会宣布，Michael Leiters博士将自2026年1月1日起接任保时捷首席执行官，奥博穆博士在执掌十年后将继续担任大众汽车集团首 席执行官。过去十年，保时捷多次成为最赚钱的汽车公司，并在2022年上市。当前，保时捷面临 ...

日前，保时捷股份公司监事会宣布任命Michael Leiters博士为保时捷股份公司首席执行官，自2026年1月1日起正式生效。已执掌保时捷股份公司十年之久的 奥博穆博士（Dr. Oliver Blume）将继续担任大众汽车集团首席执行官。 "作为保时捷股份公司首席执行官，奥博穆博士在充满挑战的时期勇担重任，成功领导了保时捷股份公司。保时捷股份公司监事会对其卓越贡献表示诚挚感 谢。他将继续担任大众汽车集团首席执行官，我们期待与他继续保持紧密互信的合作。"保时捷股份公司监事会主席沃尔夫冈·保时捷（Dr. Wolfgang Porsche）表示。 在过往十年中，保时捷曾多次成为世界上最赚钱的汽车公司，并且在2022年实现上市。保时捷方面认为，奥博穆以前瞻性视野为保时捷执行董事会完成了新 老交替的战略布局。针对公司现状，奥博穆表示："保时捷两大核心市场——美国与中国，正面临重大变化，对保时捷的商业模式提出新要求。为此，保时 捷今年完成了组织架构调整，并全面升级产品战略。凭借灵活的产品驱动系统战略与优化的成本结构，保时捷已为未来奠定坚实基础。作为大众汽车集团首 席执行官，我将密切关注并支持保时捷的未来发展。" 作为奥 ...

Core Viewpoint - Porsche has announced the appointment of Dr. Michael Leiters as the new CEO, effective January 1, 2026, succeeding Dr. Oliver Blume, who will continue as CEO of the Volkswagen Group [1][3]. Group 1: Leadership Transition - Dr. Oliver Blume has led Porsche for ten years, achieving record financial performance, a successful IPO, and international market expansion [3]. - Dr. Blume expressed confidence in Dr. Leiters, highlighting his extensive experience in the sports car industry and previous tenure at Porsche [3][4]. - The supervisory board, led by Dr. Wolfgang Porsche, acknowledged Dr. Blume's contributions and expressed optimism for continued collaboration [3][4]. Group 2: Strategic Focus - Dr. Blume noted significant changes in Porsche's core markets, the U.S. and China, necessitating adjustments to the business model [3]. - The company has completed organizational restructuring and upgraded its product strategy to lay a solid foundation for the future [3]. - Dr. Leiters brings over 13 years of experience at Porsche and has previously held leadership roles at McLaren and Ferrari, positioning him well to address current challenges [3][4].

智通财经10月20日电，保时捷宣布，公司监事会正式任命Michael Leiters为保时捷股份公司首席执 行官，自2026年1月1日起正式生效。奥博穆（Oliver Blume）将继续担任大众汽车集团首席执行官。 Michael Leiters于2022年7月至2025年4月担任迈凯伦汽车首席执行官，此前在法拉利担任首席技术官。 在加盟法拉利前，Michael Leiters曾在保时捷任职超过十三年，离任前负责Macan与Cayenne系列车型。 ...