Porsche trims outlook as tariffs add to 'storm' of challenges
The burden of tariffs on car imports to the United States only added to Porsche's woes, as it undergoes a costly restructuring while facing weakness in its key market China and a sluggish transition to electric cars.
"We continue to face significant challenges around the world. And this is not a storm that will pass," Porsche CEO Oliver Blume said.
Taking into account the newly agreed tariff of 15% from August 1, the German carmaker expects group sales this year in the range of 37 to 38 billion euros, in line with its previous forecast, and a return on sales of between 5 and 7%, down from a previously expected 6.5-8.5% range.
Countermeasures such as price adjustments are included in that outlook as Porsche seeks to mitigate the damage, the company said.
Group figures released last week showed Porsche's operating profit collapsing by 91% year on year in the second quarter, to 154 million euros.
($1 = 0.8655 euros)
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The information presented herein is based on manufacturer-provided lease offer information, which is subject to frequent change and may vary based on location, creditworthiness, and other factors. We are not a party to any lease agreements and assume no liability for the terms, conditions, availability, or accuracy of any lease offers mentioned. All terms, including but not limited to pricing, mileage allowances, and residual values, require direct verification with an authorized local OEM dealership. This article does not constitute financial advice or an endorsement of any particular lease or vehicle. About the Author Amos Kwon View Profile
