编译 / 吴 静 编辑 / 黄大路 设计 / 吴 静 来源 / C a rs c o o p s 、 A u t o n e w s 、 R e u t e rs 、 E v x l 事实证明，即使是保时捷也难逃现实的考验。面对持续的销量低迷和日益增长的盈利压力 ，保时捷 正在调整策略，对其产品计划进行重大反思。 与此同时，汽油动力版 Panamera 和 Cayenne 的粉丝们可以松一口气了。这两款车型都将在 2030 年代继续采用内燃机和混合动力技术。保时捷已确认， 其后续车型已纳入其长期 规划 ，确保其在未来几年的产品线中占据一席之地。 此次重组代价高昂。作为欧洲最大的汽车制造商，大众汽车表示，其子公司的此次大规模产品调整将使其损失 51 亿欧元。对于 保时捷 来说，此次调整 是一个重大转变，预计将导致保时捷今年的营业利润损失高达 18 亿欧元。 因此 ， 该汽车制造商将其 2025 年的销售回报率预期下调至最高 2% ，低于此前预测的 5% 至 7% 。 根据 上 周五发布的一份声明，这家跑车制造商正重新转向内燃机车型，包括混合动力车型，同时暂停即将推出的电动车型 。 " 我们已完成产品战略调整的最 ...

Core Insights - Ferrari N.V.'s Purosangue has established itself as a significant contributor to the company's delivery performance, alongside the 296 GTS and Roma Spider, with total deliveries remaining steady at 3,494 units in Q2 2025 [1][4][11] - The Purosangue is Ferrari's first four-door SUV, launched in September 2022, combining high performance with the practicality of an SUV, and is described as the company's most comfortable and versatile vehicle [2][11] - Ferrari's strategy involves careful management of Purosangue production to maintain exclusivity while enhancing delivery volumes and pricing power, ensuring growth without compromising brand heritage [3][11] Delivery Performance - In Q2 2025, the Purosangue emerged as a key model driving deliveries, reinforcing Ferrari's robust order book and expectations for continued delivery strength in upcoming quarters [4][11] Competitive Landscape - Other luxury automakers, such as Porsche and Aston Martin, are also leveraging SUVs for growth, with Porsche's Cayenne and Macan serving as sales anchors, while Aston Martin's DBX has faced execution challenges despite its potential [5][6]

Core Viewpoint - The article discusses the increasing scrutiny and criticism surrounding Oliver Blume's dual role as CEO of both Volkswagen Group and Porsche, highlighting concerns over potential conflicts of interest and governance issues [3][5][31]. Group 1: Background and Context - Oliver Blume is the first CEO in Volkswagen Group's history to hold dual positions as CEO of both Volkswagen and Porsche [10]. - The controversy over Blume's dual role began when he took over as CEO of Volkswagen Group, with initial concerns raised by a minority of investors [14][18]. - Following Porsche's IPO in September 2022, Blume's leadership has come under greater scrutiny as both companies face declining performance [18][30]. Group 2: Financial Performance and Market Response - Porsche's performance has been declining, with a 3% drop in global deliveries in 2024 and a significant 28% decline in the Chinese market [27][28]. - As of early 2025, Porsche's stock price has fallen to €43.46, nearly halving from its IPO price of €82.5 [30]. - Financial forecasts for Porsche indicate a projected revenue of €37-38 billion for 2025, down from €40 billion the previous year [66]. Group 3: Governance and Shareholder Concerns - Shareholders have increasingly called for Blume to choose one CEO position, citing governance structures that are unprecedented in both Volkswagen and the broader German corporate landscape [9][32]. - Concerns have been raised about the potential for conflicts of interest and weakened accountability due to Blume's dual role [48][49]. - Some family members of the Porsche-Piëch family, who control a significant voting stake in Volkswagen, have expressed differing views on Blume's dual role, with some advocating for a clearer separation of responsibilities [40][54]. Group 4: Blume's Justification and Strategic Vision - Blume defends his dual role as a strategic advantage, allowing for resource integration and unified decision-making across both companies [56][57]. - He emphasizes the importance of scale in negotiations and the ability to implement necessary reforms across both brands [60][61]. - Blume believes that his leadership can help navigate the complexities of the automotive industry's transition to electric vehicles [59][63]. Group 5: Future Outlook and Strategic Adjustments - Volkswagen plans to launch 30 new models in China over the next two years, with a focus on localizing research and development [63][64]. - The company is also restructuring its dealer network in China, aiming to reduce the number of dealerships by one-third by 2027 [69].

Group 1 - The chairman of Porsche, Oliver Blume, indicated that due to "relatively low" sales, Porsche may stop selling electric vehicles in China within the next two to three years [1] - Porsche confirmed that the rumors regarding the cessation of electric vehicle sales in China are misinterpretations, and the company will continue to advance its electrification process in the Chinese market [1] - Porsche plans to launch a new all-electric Cayenne model, while currently offering two electric models, the Taycan and Macan EV, along with hybrid versions of the Panamera and Cayenne [3] Group 2 - Porsche has revised its sales revenue forecast for 2025 to between €37 billion and €38 billion, down from the previous estimate of €39 billion to €40 billion [5] - The company has decided not to expand its Cellforce subsidiary's high-performance battery production plans due to pressures from tariffs and a decline in demand for electric luxury vehicles in China [5] - In 2024, Porsche's global new car deliveries are expected to be 310,700 units, a 3% decrease year-on-year, with a significant drop in the Chinese market where deliveries fell by 28% to 56,900 units [5]