Porsche: I Remain Long, Given The Attractive Risk/Reward
Porsche (PAH3) is now the cheapest major German automotive, trading at a 3x P/E and offering a 5.5% yield despite recent dividend cuts. Sales declines, especially in China and across all regions, reflect operational challenges, but management's focus on 'value over sales' is a positive strategic shift. DCF and peer-based valuations suggest massive upside, but I conservatively maintain a €75 fair value and set a €60/share price target, rating Porsche a 'Buy.'
Porsche Deliveries Fell 16% in First Half
Sales were dented by the end of production of the gasoline-powered 718, strong demand for the all-electric Macan in the same period last year, and the end of U.S. tax incentives.
Porsche Could Cut Jobs as It Pushes Ahead With Turnaround Effort
The sportscar maker is in talks with employee representatives as it pushes ahead with a broader streamlining plan.
Drifting In The Same Lane: The Convergence Of Porsche And Ferrari
The trade: Long Porsche/short Ferrari for the long term (18-month horizon, P911/RACE ratio expanding from ~0.14 to ~0.17 in the base case, +25%), with a short-term long Ferrari. Ferrari de-rating: Price increases slowing from 10-15% to ~5%, the October 2025 CMD resetting 2030 ambitions below consensus, and the May 25, 2026, Luce reveal triggering an 8% drop on the day. Porsche re-rating leg: New CEO Michael Leiters has formally adopted "Value over Volume" under Strategy 2035, pivoting explicitly toward the Ferrari exclusivity model with a walk-back of the failed 80%-EV-by-2030.
Porsche shutters e-bike, battery, software subsidiaries as part of company overhaul
Porsche is closing three of its subsidiaries as it copes with falling sales and declining profits, the German automaker announced Friday.
Porsche AG to cut over 500 jobs as it sharpens focus on core business
Porsche AG said on Friday that it planned to cut more than 500 jobs as it discontinues three subsidiaries to focus on core business.
Porsche Backs Guidance as Turnaround Plan Continues
Porsche AG backed its full-year guidance despite continuing economic and geopolitical uncertainties, as it presses ahead with a strategic reset.
Porsche's profit drops by more than a fifth in first quarter
Porsche on Wednesday said its first-quarter profit fell by more than a fifth, piling further pressure on CEO Michael Leiters to cut costs and revive sales.
Porsche sells its Bugatti Rimac stake and walking away from Rimac
Porsche AG has agreed to sell its 45% stake in Bugatti Rimac to a consortium led by HOF Capital, with BlueFive Capital as its largest investor. Under the terms of the deal, Porsche will also divest its 20.6% stake in Rimac Group.
Porsche is adding an all-electric Cayenne coupe to its lineup
Porsche will start selling an all-electric Cayenne coupe in late summer, the latest signal from the German automaker that it still sees market demand for EVs.
Porsche deliveries plunge 15% as China weakness hits luxury demand
Porsche's global deliveries fell sharply in the first quarter, underlining the pressure facing premium carmakers as softer demand in China and the US collides with an uneven transition to electric vehicles and product changeovers across key markets. The sports-car maker handed over 60,991 vehicles in the first three months of the year, down 15% from the same period a year earlier.
Porsche Deliveries Drop in First Months of Year
Car deliveries fell 15% as the end of production of its petrol-powered 718 range and the discontinuation of tax incentives for electric and hybrid vehicles in the U.S. dented sales.
