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Porsche SE cuts guidance, eyes bigger defence role

Holding company Porsche, Volkswagen's largest shareholder, has today cut its full-year profit forecast, weighed down by the German automaker's weak first-half performance, while reiterating its plans to invest in the defence sector.

Business • 13 Aug

Volkswagen has joined a chorus of car makers warning that US trade policy was making it almost impossible to make financial predictions

Trade tensions, EV costs to weigh on Volkswagen profits

Volkswagen said today that profit margins this year were likely to be towards the bottom of its guidance range and joined a chorus of car makers warning that US trade policy was making it almost impossible to make financial predictions.

Business • 30 Apr

Porsche is one of the carmakers most exposed to tariffs as it has no US production

Porsche warns of further uncertainty on US tariffs

Porsche's margins plunged in the first quarter, it said today, forcing the sportscar maker to cut its 2025 outlook in the wake of weakness in China, its main market, rising supply chain costs and US tariffs that are disrupting the global car industry.

Business • 29 Apr

Porsche said its deliveries were down 42% and 10% year-on-year in China and Europe

Porsche deliveries fall on weaker demand in China, Europe

German sports car maker Porsche delivered 8% fewer vehicles globally in the first quarter, it said today, hit by declining demand in China and Europe.

Business • 08 Apr

Porsche's shares suffered their worst day on the stock market last month

Porsche's net profit slashed by a third in 2024

Porsche said said today it will keep its dividend for 2024 at the previous year's level despite a 30.4% drop in net profit, according to Reuters calculations, as the luxury carmaker battles high costs and weak demand in China.

Business • 12 Mar

Volkswagen's factory in Wolfsburg, Germany

VW, unions resume last-ditch round of talks on cost cuts

Volkswagen management and labour representatives will resume high pressure talks this morning over planned cost cuts to the carmaker's German sites after a 13-hour negotiation round yesterday failed to produce an agreement.

Business • 17 Dec 24

Volkswagen said its second-quarter earnings before interest and taxes came in at €5.46 billion, from €5.6 billion the same time last year

Volkswagen warns cost-cutting phase not over

Volkswagen has today warned that its cost cutting period was not over and would last beyond the second half of 2024, as its second-quarter operating profit fell amid higher costs.

Business • 01 Aug 24

Porsche cuts outlook, warns of alloy shortage impairments

Porsche has cut its sales and profitability outlook due to an unexpected aluminium alloy supply shortage, sending shares in the German sports car maker 5% lower.

Business • 23 Jul 24

A Porsche Mission X concept electric hypercar

Porsche warns luxury not immune to economic woes

Porsche has today reported nine-month results in line with its annual forecast but warned the luxury sector was suffering like others from higher costs and dampened consumer confidence as interest rates rise.

Business • 25 Oct 23

Porsche overtook Volkswagen as Europe's most valuable carmaker within a week of its stock market debut

Porsche sees record earnings for 2022

Porsche has reported record earnings in 2022, with profits up by over a quarter to €6.8 billion on a rise in deliveries of 2.6%.

Business • 13 Mar 23

Google, Porsche in talks over Google Apps access

Porsche is considering fully integrating Google software into its car cockpit, a source close to the company said, marking a shift in strategy for the newly listed carmaker.

Business • 12 Jan 23

Volkswagen has maintained its outlook for the year of the upper end of forecasts

Volkswagen Q3 earnings stagnate below pre-Covid levels

Volkswagen has today reported third-quarter earnings of €4.3 billion, behind pre-pandemic levels, following €1.6 billion in one-off effects from the suspension of Russian activities and its Porsche AG listing.

Business • 28 Oct 22

Porsche has a market valuation of €85 billion

Porsche overtakes VW as Europe's most valuable carmaker

Porsche took pole position as Europe's most valuable automaker today, overtaking former parent Volkswagen as the price of the sportscar maker's newly-listed shares sped higher.

Business • 06 Oct 22

Porsche shares avoided dropping below its IPO pricing for the first two days of trading on Thursday and Friday

Porsche shares fall below IPO pricing

Shares in sports car brand Porsche fell below its listing price today, the third day of trading since its $72 billion listing by parent company Volkswagen.

Business • 03 Oct 22

Today's Porsche AG IPO was Germany's biggest listing since Deutsche Telekom in 1996

Porsche shares flat at close after landmark listing

Porsche AG made its debut on the stock market today, with a price tag of about €75 billion after Volkswagen priced shares at the top end of the range, braving turbulent market conditions.

Business • 29 Sep 22

As part of the listing, 911 million Porsche AG shares will be divided into 455.5 million preferred shares and 455.5 million ordinary shares

Volkswagen targets €75 billion valuation in Porsche IPO

Volkswagen is targeting a valuation of up to €75 billion for luxury sportscar maker Porsche, in what will be Germany's second-largest initial public offering (IPO) in history.

Business • 19 Sep 22

At the high end of estimates, the Porsche IPO could be among the largest in German history and the biggest in Europe since 1999

Volkswagen triggers landmark Porsche IPO plan

Volkswagen has announced its intention to float sports car brand Porsche, triggering what could become one of the world's largest listings even as record inflation and a Russia-Europe energy standoff has sent European stocks tumbling.

Business • 06 Sep 22

Porsche used by Steve McQueen's in Le Mans.

Steve McQueen's Porsche up for auction

News Lens • 15 Jul 21

Volkswagen to make decision on Bugatti in H1

Electric hypercar maker Rimac Automobili and Volkswagen's supercar brand Bugatti are a good technological fit, Porsche's chief executive CEO told German weekly Automobilwoche, fuelling hopes that a deal between the two could happen soon.

Business • 22 Feb 21

Volkswagen's chief executive Herbert Diess

Volkswagen accelerates electric car push

Volkswagen said it will launch almost 70 new electric models by 2028, accelerating its rollout of zero-emission cars.

Business • 12 Mar 19

Sales of Audi cars in Europe slumped 53% in October, new figures show today

European passenger car sales slump 7.4% in October

New car registrations in Europe slumped 7.4% in October on falling demand in Germany, France, Italy and Spain, new figures show today.

Business • 15 Nov 18

The latest US settlement deal covered luxury VW, Audi and Porsche vehicles with 3.0-litre engines

VW agrees to fix, buy back more polluting US cars

Volkswagen has agreed to a $1 billion settlement to fix or buy back another 80,000 polluting diesel vehicles sold in the US as the German car maker took new steps to put its emissions cheating scandal behind it.

Business • 21 Dec 16