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Germany's Porsche pauses shift to EVs as profits tank

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Clifford Coonan
October 25, 2025

Profits at Porsche plunged by nearly 96% in the first nine months of 2025. The German carmaker attributed the decline to a change in strategy, shifting its focus back to combustion engines due to weak demand for electric vehicles.

Porschefaces a billion-euro setback as it slows its electric vehicle rollout and returns to petrol.

The iconic carmaker is struggling with its costly strategy shifts, weaker overall EV demand, China's luxury market slump and US President Donald Trump's tariff hikes, forcing parent company Volkswagen absorb a €5 billion loss.

Porsche is now betting on ex-McLaren CEO Michael Leiters to steer a turnaround.

 

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