Porsche Automobil Holding SE ADR (POAHY)
Porsche starts talks to end CFO, sales chief contracts
Porsche's supervisory board has started talks to end finance chief Lutz Meschke's and sales executive Detlev von Platen's contracts early, the German luxury carmaker said in a statement late on Saturday, as it struggles to boost flagging earnings and weak sales in China.
Porsche's 2024 China sales fall by 28%
German sports car maker Porsche AG reported a 28% tumble in 2024 China sales on Monday, as persistent weakness in the world's largest car market hit German carmakers.
VW top shareholder Porsche SE sees impairment on investment of up to 20 bln euros
Porsche SE , the holding company which owns a third of Volkswagen , expects an impairment on its investment in the carmaker of up to 20 billion euros ($20.98 billion), it said on Friday.
Not Just A Porsche Stock, But It Could Still Hold Hidden Alpha
POAHY shares are not a vehicle for investing exclusively in Porsche; rather, they provide substantial exposure to VWAGY and other small but innovative ventures. Given the increase in net debt, a dividend cut is likely to be expected. The debt level is shrinking, creating a favorable discount in the share price relative to NAV.
Porsche staff to join wave of strikes in key German industries
Porsche AG staff at the German carmaker's site in Stuttgart will join a wave of strikes in key German industries on Tuesday, said IG Metall union's local branch, as part of national action planned to push for higher pay.
Porsche AG flags cost cuts as China weakness, slowing EV shift hits profits
Luxury sportscar maker Porsche AG on Friday warned it may cut costs after a slower-than-expected transition towards electric vehicles and persisting weakness in the Chinese market caused nine-month operating profit to fall by more than a quarter.
Porsche's nine-month China sales plunge by third
German sports car maker Porsche on Friday posted a 29% nine-month sales drop in China, joining peers BMW and Mercedes in reporting weaker results in the country.
Porsche to recall over 27,000 EVs in US over battery short circuit risk
Porsche is recalling 27,527 electric sedans in the U.S. over concerns they may experience a short circuit within the battery module, the National Highway Traffic Safety Administration said on Tuesday.
Porsche AG: Bad News, A Few Positives And The Issue Of Valuation
Porsche AG shares have been disappointing post-IPO, falling due to challenges in China and cautious market guidance despite initial gains. Germany's economic struggles, including a recession and reliance on China, have negatively impacted German automakers, including Porsche. Porsche faces difficulties in the EV market, with consumer preferences shifting towards local BEVs in China, affecting sales.
Porsche-backed German start-up Cylib breaks ground on battery recycling plant
German battery recycling start-up Cylib, which counts Porsche and Bosch as backers, broke ground on its first European industrial plant in western Germany, the company said on Monday.
A Porsche-backed startup is building a massive battery recycling plant to boost Europe's EV industry
Cylib, a startup backed by luxury sports car firm Porsche and appliances maker Bosch, is building a massive battery recycling facility in Germany. The plant, located in the town of Dormagen in western Germany, will span 236,000 square feet.
Audi sales chief steps back, to be replaced by Porsche Europe head
Audi's sales chief Hildegard Wortmann has chosen to step back from her role and will be replaced by Marco Schubert, head of Europe at Porsche AG, Audi said on Friday.
