German carmaker has struggled with rising competition in China, a key market for European luxury brands
Porsche is to cut more jobs after profits were largely cancelled out by a costly writedown on reversing its electric car strategy, as the luxury manufacturer also battled a prolonged sales slump in China.
The German carmaker appointed a new chief executive, Michael Leiters, on 1 January after four profit warnings last year that also contributed to it tumbling out of Germanys DAX stock index.
The streamlining of the company needs to be sharpened and this will lead to further job reductions, said Leiters on Wednesday. Porsche employs about 40,000 people and has previously said it would make about 3,900 job cuts by 2030.
We will streamline our management structure, reduce hierarchies and cut back on bureaucracy, said Leiters, adding that more details would come in the autumn.
Porsche has struggled with rising competition in China, a key market for European luxury firms, where homegrown car manufacturers sales are booming. China accounted for about 15% of car deliveries, down from 18% the previous year.
Meanwhile Donald Trumps car tariffs have also hurt its sales in North America. The company imports all of the vehicles it sells in the US C still its biggest market C where the tariffs cost it about 700m in 2025.
Porsche said total deliveries fell 10% to 279,000 cars, causing revenue to slump 12% to 32.2bn. Operating profit fell to 413m from 5.6bn the previous year.
Amid the crisis, Porsche is walking back on a once ambitious electric car strategy, resulting in a 3.9bn writedown C a balance sheet correction that acknowledges the cost of changing tack, rather than immediate cash losses.
We are using the current challenges as an opportunity to act even more decisively, said Leiters. We will comprehensively reposition Porsche, make the company leaner, faster and the products even more desirable.
Porsches torrid year also hit its parent company, Volkswagen, which warned it would need to make more dramatic job cuts earlier this week. VW said it would shed 50,000 jobs by the end of the decade, as it faced falling sales in China and North America.
Porsche has historically been one of the German car giants key profit drivers, boasting an operating margin of 14.5% in 2024 C compared to margins of between 3% and 6% for most carmakers.
Its operating margin slumped to just 1.1% last year, which it said could rise to 5.5% in 2026.
The company has been forced to delay several planned electric car models in favour of adding more vehicles powered by internal combustion engine, which are more profitable.
Those include electric versions of its Boxster and Cayman models, which are now expected to come in 2027 C hit in part by the bankruptcy of the battery manufacturer Northvolt . An electric SUV model, the K1, announced to fanfare in 2023, has also been pushed to around 2029, and is also expected to include hybrid and petrol options.
Earlier in the week, VW warned that global turbulence caused by the US-Israeli military action against Iran would would negatively affect its outlook. Porsche said the potential impact of the war had not been taken into account in its forecasts.
德国汽车制造商在中国市场面临日益激烈的竞争压力，而中国正是欧洲豪华品牌的关键市场。
由于利润被电动车战略逆转导致的高额减值支出大幅抵消，加之这家豪华汽车制造商在中国市场长期面临销售低迷，保时捷计划进一步裁员。
这家德国汽车制造商在去年四次发布盈利预警后，于1月1日任命迈克尔·莱特斯（Michael Leiters）为新任首席执行官，这些预警也导致其跌出德国DAX股票指数。
保时捷首席财务官莱特斯（Leiters）周三表示："公司需要进一步精简架构，这将导致更多岗位裁撤。"目前保时捷拥有约4万名员工，此前曾宣布计划到2030年前削减约3900个职位。
莱特斯表示："我们将精简管理架构、减少层级并削减官僚主义。"他补充称，更多细节将于秋季公布。
保时捷在中国市场面临日益激烈的竞争压力。作为欧洲豪华车企的关键市场，中国本土汽车制造商的销量正迅猛增长。目前中国约占保时捷全球交付量的15%，较上年的18%有所下滑。
与此同时，唐纳德·特朗普实施的汽车关税政策也影响了该公司在北美市场的销售。该公司在美国销售的所有车辆均依赖进口（美国仍是其最大市场），2025年这些关税预计将给公司造成约7亿欧元的损失。
保时捷表示，其全球交付量下降10%至27.9万辆，导致营收下滑12%至322亿欧元。营业利润从上一年的56亿欧元骤降至4.13亿欧元。
在此次危机中，保时捷正撤回其一度雄心勃勃的电动汽车战略，导致39亿欧元的资产减记——这一资产负债表调整承认了改变策略的代价，而非即时的现金损失。
莱特斯表示："我们将当前面临的挑战视为采取更果断行动的机遇。" "我们将全面重新定位保时捷，使公司更加精简高效，产品更具吸引力。"
保时捷今年的艰难处境也波及了其母公司大众集团。大众本周早些时候警告称，将需要实施更大幅度的裁员。该公司表示，由于在中国和北美市场面临销量下滑，到2030年前将削减5万个工作岗位。
保时捷历来是这家德国汽车巨头的核心利润来源，其2024年营业利润率高达14.5%，而大多数汽车制造商的利润率仅在3%至6%之间。
该公司去年营业利润率骤降至仅1.1%，但其表示这一数字到2026年有望回升至5.5%。
该公司被迫推迟了数款计划中的电动汽车车型，转而增加利润更高的内燃机汽车产量。
这包括其Boxster和Cayman车型的电动版本，由于电池制造商Northvolt破产的影响，这些车型预计将推迟至2027年推出。另一款在2023年高调宣布的电动SUV车型K1，也被推迟至2029年左右发布，并预计将同时提供混合动力和燃油版本。
本周早些时候，大众汽车警告称，美以对伊朗军事行动引发的全球动荡将对其前景产生负面影响。保时捷则表示，其预测中未将战争潜在影响纳入考量。
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