(Reuters) – Porsche and Volkswagen fall on the stock market on Monday after the luxury car manufacturer and his parent company revised their profit prospects for 2025 on Friday to reflect delays in the launch of their electric vehicle projects (VE).
In Frankfurt, around 07:40 GMT, Porsche abandons 5.41% to 33.25 euros while Volkswagen lost 6.10% to 92.30 euros, against a drop of 0.56% for the Dax at the same time
Porsche put on Friday a stroke of the deployment of new VEs due to lower demand, pressure on the Chinese key market and the increase in American customs duties, leading to a reduction in its profit objective.
The group has revised down its beneficiary margin forecast for 2025, which goes from 5-7% to 2% maximum. Its medium-term margin forecast goes from 15-17% to 15% at best.
This major turning point for the high-end manufacturer should weigh on the operating profit of Porsche up to 1.8 billion euros this year, he said.
Volkswagen, the first European manufacturer, said that it would suffer a loss of 5.1 billion euros following strategic change at Porsche, which he holds at 75.4%.
According to Jefferies analysts, the revision of Porsche and Volkswagen’s prospects could be the last, but they warn that it could lead to challenges in products and brand image cycle.
(Written by Etienne Breban, with Ferdinand Eibach, Christoph Steitz and Thomas Seythal, edited by Augustin Turpin)
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