BERLIN (Reuters) – Porsche reported a larger-than-expected third-quarter operating loss on Friday, deepening the crisis the automaker finds itself in as its transition to electric vehicles (EVs) stalls and it attempts to stabilize sales in its main market of China.
The German manufacturer’s operating loss amounted to 967 million euros in the third quarter, compared to a profit of 974 million euros in the same period last year. Its results were penalized by delays in the launch of its EV projects.
Analysts surveyed by Visible Alpha expected an operating loss of 611 million euros for the July-September period.
“We expect 2025 to be the trough before a noticeable improvement for Porsche from 2026 onwards,” said Jochen Breckner, Porsche CFO.
“Large-scale solutions” will be needed in the ongoing restructuring negotiations with staff representatives, he also warned.
Porsche CEO Oliver Blume, who holds the same position as head of parent company Volkswagen, will hand over leadership of the luxury car maker to former McLaren boss Michael Leiters at the start of 2026, the group said last week, following long-standing criticism from investors over his dual role.
Michael Leiters will inherit one of the most difficult files in the European automobile sector, hit by the drop in demand in China and the pressure on margins exerted by American customs duties.
(Reporting Rachel More, Elena Smirnova, editing by Kate Entringer)
Copyright © 2025 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
