There comes a time when we all find ourselves on some rough patches of the road. Porsche is no exception, but it appears that this time around, the brand has found itself in a way too bouncy situation. Porsche published its Q1-Q3 2025 results, and the numbers—needless to say—are very concerning. The operating profits have plummeted from just over €4 billion to a lousy €40 million. How did this happen in just 1 year, you ask? Well, there are a few factors contributing to this.
| Porsche AG | Q1-Q3 2025 | Q1-Q3 2024 | Change |
| Sales revenue | €26.86 billion | €28.56 billion | -6.0% |
| Operating profit | €40 million | €4,035 million | -99% |
| Operating return on sales | 0.2% | 14.1% | |
| Deliveries to customers | 212,509 | 226,026 | -6.0% |
As you can see from the table above, there isn’t a significant difference in the sales revenue and deliveries. It is only down 6%, which isn’t all that bad. So why then, there’s a 99% decline in operating profit?
Well, for starters, there’s a change in the product strategy. Porsche is planning to push its new electric vehicle launches to a later date. More specifically, the development of a new electric vehicle platform—originally planned to be launched in 2030—will be rescheduled. Reason? This upcoming new platform needs to be aligned with the other brands in the VW Group. In the meantime, Porsche wants to launch new models with combustion and plug-in hybrid powertrains. This realignment exercise cost Porsche around €2.7 billion. On top of that, the US import tariffs further added to the costs. The forecast for FY 2025 takes into account the US import tariff of 15%, applicable from 1st August. In total, Porsche expects costs of around €3.1 billion for FY 2025 for this whole strategic realignment.
As for positive points, well, the deliveries in the North American region went up by 5%. The sales of electrified vehicles went up by 35% globally and 56% in Europe. Of all vehicles delivered, 23.1% were fully electric and 12.1% were plug-in hybrids. Automotive net cash flow increased to €1.34 billion at the end of Q3 2025, as opposed to €1.24 billion in the previous year. Porsche continues to expect sales revenue in the region of €37 to 38 billion.
Currently, Porsche sells two fully-electric vehicles: Taycan and Macan. The Cayenne is expected to join this lineup in early 2026. A fully-electric 718 is also in the works, confirmed by outgoing CEO Oliver Blume, but the launch of this may be delayed.
Recommended for you
Leave a Reply
Note: Comments that are unrelated to the post above get automatically filtered into the trash bin.
