Porsche Automobil Holding SE ADR (POAHY)
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.
Why Porsche NA CEO Timo Resch is betting on ‘choice' to survive the turbulent EV market
Timo Resch is basking in the sun. That's literally true, as we spoke on a gloriously clear California day at the Quail, one of Monterey Car Week's most prestigious events.
Porsche SE eyes further investments in "attractive" market environment
Porsche SE is in a position financially to consider further investments to diversify its portfolio, the holding group's finance chief said alongside first-half results on Tuesday.
Porsche AG Confirms Its 2025 Potential
An aluminum supplier flooding issue impacts the company. For this reason, Porsche AG reduced its year-end estimates. Here at the Lab, we are still positive thanks to customization, product MIX, and the company's net liquidity. Porsche AG has a young product portfolio, and Q2 earnings results showed a beat in operating profit. This supports our buy rating.
Porsche shares fall 5% after automaker cuts 2024 outlook on aluminium alloy shortage
Shares in automaker Porsche fell on Tuesday after the company cut its 2024 outlook. Porsche said various suppliers were affected by a shortage of special aluminium alloys.
Porsche's Options: Luxury Heritage Vs. Premium Mass-Market Growth
Luxury niche players and automakers with significant EV volume have higher sales multiples compared to traditional automakers transitioning. Porsche AG's underperformance in the stock market can be attributed to a buy-the-rumor, sell-the-news pattern. Porsche's valuation is lower than Tesla and Ferrari due to its commercial strategy and potential challenges ahead, but the brand's value provides optionality for future success.
