Porsche Posts €967M Loss, Restructuring Plans

Porsche reported a €967 million operating loss in Q3 and said year-to-date operating profit plunged about 99% to roughly €40 million after taking a multibillion-euro hit from strategic realignment. Management blamed a slowed EV rollout and postponed launches, the scrapping of its in-house battery program, weakening demand—especially in China—and U.S. tariffs, driving extraordinary realignment costs of roughly €2.7–3.1 billion. As part of the plan, Porsche is delaying all-electric launches and reintroducing more combustion-engine and plug-in-hybrid models, and it will keep the current ICE Macan in production through mid‑2026 while continuing ICE Boxster/Cayman production in the near term. The company said it is stockpiling cars in key markets until redesigned models arrive, that deliveries are down about 6%, but cash flow remains positive at around €1.3 billion. Porsche announced workforce reductions and other measures and said former McLaren executive Michael Leiters is due to become CEO in January 2026 to lead a turnaround aimed at improvement from 2026 onward.