Porsche’s Profit and Market Performance in 2024
Porsche’s profit plummeted in 2024, with a striking 30.3% decline to approximately €3.6 billion compared to €5.2 billion in 2023. The drop is attributed primarily to poor performance in the Chinese market and high costs associated with model renewals. Amidst a significant management shake-up, including the departure of key executives, the automaker is shifting its strategy to invest more in combustion engines and plug-in hybrids, targeting a challenging economic climate.
Key Financial Highlights
- Deliveries fell by 3% to around 310,700 vehicles
- 28% decrease in deliveries in China
- Revenue dipped slightly by 1.1% to over €40 billion
- Operating profit saw a decrease of nearly 23%
As Porsche aims to navigate these challenges, it plans to invest €800 million in new models and a cost-saving initiative, although forecasts suggest a further dip in operating margin to between 10% and 12%. Despite these hardships, Porsche remains committed to proving its financial resilience.
Further Insights
For more insights on Porsche’s financial strategy and market performance, explore our detailed analysis.
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