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Hindustan Times
2 days ago
- Automotive
- Hindustan Times
BMW, Mercedes avoid €4 billion tariffs in EU-US trade reprieve
BMW AG, Mercedes-Benz Group AG and other European automakers are getting a €4 billion ($4.7 billion) earnings lift from the trade deal the European Union struck with the US, according to Bloomberg Intelligence. The trade deal offers a measure of clarity in a key market for Mercedes, BMW, Porsche AG and Volvo Car AB. European auto stocks rose on Monday over news that the rate on car imports from the EU would be lowered to 15% from 27.5%. BMW and Mercedes are also benefiting from tariff exemptions for about 185,000 cars they export annually from their American factories, BI analyst Michael Dean said in a note. The trade deal offers a measure of clarity in a key market for Mercedes, BMW, Porsche AG and Volvo Car AB. Since Trump imposed the tariffs in April, automakers have warned of billions of dollars in added costs and supply-chain complexity, with several of them scrapping or lowering financial forecasts for the year. 'It's the best result out of what was looking like a bad situation,' auto analyst Matthias Schmidt said in comments late Sunday. 'I think German and Swedish CEOs will be sleeping more soundly tonight than they have in recent weeks.' Still, the new rate is significantly higher than the 2.5% duty in place before Trump made his trade moves, and it forces companies to weigh whether to raise prices or move more production to the US. Germany's VCI chemical-industry association — which includes manufacturers such as BASF SE that supply carmakers — warned that the new tariffs still hurt Europe's industry. 'If you're bracing for a hurricane, you're grateful for a storm,' VCI President Wolfgang Große Entrup said in a statement. 'Nevertheless, the agreed tariffs are too high. Europe's exports are losing competitiveness.'
Yahoo
18-07-2025
- Automotive
- Yahoo
Porsche head announces further cost-cutting programme for German firm
Porsche chief executive Oliver Blume is preparing the sports car manufacturer's employees for another round of tough cost-cutting measures. "The situation remains serious, and the industry is developing very dynamically," Blume wrote in a letter to the workforce, excerpts of which were made available to dpa on Friday. "In the second half of 2025, employer and employee representatives will now negotiate a second structural package to secure the company's long-term performance," he wrote. It was initially unclear whether further job cuts were planned. At the beginning of the year, the company announced that it wanted to cut 1,900 jobs in the Stuttgart region by 2029 in a socially responsible manner. Job security for Porsche AG employees is guaranteed until 2030. Redundancies for operational reasons are ruled out until then, so the group must rely on voluntary departures. The business model that has sustained the company for many decades no longer works in its current form, Blume continues in his letter. "Our framework conditions have deteriorated massively in a short period of time." In addition, electric mobility is growing much more slowly in many markets than the carmaker and many experts had expected. "All of this is hitting us hard. Harder than many other car manufacturers," his letter says. The company's problems are reflected in the business figures. After the slump in 2024, Porsche's profit fell further in the first quarter of 2025. Operating profit amounted to €760 million ($885 million) – 40.6% less than a year earlier. At €8.86 billion, revenue was also below the previous year's figure. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
18-07-2025
- Automotive
- Bloomberg
Porsche Plans More Cost Cuts To Counter Tariffs, China Slump
Porsche AG warned its employees to brace for further cost reductions as the luxury-car maker seeks ways to offset declining sales in China and the escalating cost of US tariffs. The manufacturer will start negotiations on additional reductions in the second half of this year, Chief Executive Officer Oliver Blume wrote in a memo to employees seen by Bloomberg. Management is following through on its pledge to find more savings after taking steps to reduce headcount earlier this year.
ArabGT
15-07-2025
- Automotive
- ArabGT
Porsche Prices Climb Again as Market Pressures Mount
If you've been eyeing a new Porsche, brace yourself—Porsche prices are on the rise once more. The automaker has issued its second price hike in just four months, with increases ranging from 2.3% to 3.6% across its entire model range. Blaming 'market conditions,' Porsche says the decision was necessary to absorb growing external costs. A company spokesperson stated, 'With our customers front of mind, we keep a regular watch on market conditions, absorbing costs where we can and making adjustments only when absolutely necessary.' That means Porsche prices are now higher not only for the vehicles themselves, but also for options, delivery fees, and custom features. What's New in Porsche Prices? Here's a quick look at how Porsche prices have shifted: 2026 Porsche 911 Carrera : Now $134,650 (up from $129,950) 2026 Porsche Panamera : Now $112,450 (up from $108,550) 2026 Porsche Cayenne : Now $91,950 (up from $88,795) 2026 Porsche Macan : Now $66,950 (up from $65,350) 2026 Porsche Taycan : Now $106,250 (up from $102,550) 2025 Porsche 718 Cayman: Now $77,395 (up from $74,795) Even higher-performance variants weren't spared. The 911 GT3 and GT3 Touring now start at $234,550, a jump of nearly $9,800. Why Are Porsche Prices Going Up? While Porsche didn't directly name tariffs as a reason, the pricing shifts come amid continued trade tension and global cost volatility. Porsche manufactures all its vehicles overseas—mostly in Germany, with Cayenne production also in Slovakia—making it vulnerable to import duties and currency fluctuations. Existing 25% tariffs on imported vehicles and the threat of additional increases add further pressure on Porsche prices. Options and Fees Also Affected The price hike isn't limited to the base vehicle itself. Porsche confirmed that individual option costs and delivery charges are also being revised. This means the final transaction price for many buyers could exceed the stated 3.6% increase—especially for customized builds with premium add-ons. Sales Slowdown Adds More Pressure Porsche's global sales are under stress, particularly in China where domestic brands are dominating and international automakers are losing ground. Meanwhile, consumer interest in electric models like the Taycan and the upcoming Macan EV has not met expectations, especially in the U.S., where the EV adoption rate remains slower than anticipated. Despite these hurdles, Porsche remains firm in its pricing strategy, reaffirming that Porsche prices reflect both premium quality and necessary business adjustments. Looking Ahead The rising Porsche prices illustrate how even top-tier luxury brands aren't immune to economic shifts. For buyers, the message is clear: if you're planning to purchase a Porsche, today's price may be the lowest you'll see for a while. While many loyal customers are unlikely to be deterred by modest increases, the real question is how long Porsche can maintain its pricing power in a rapidly evolving global market.
Motor 1
15-07-2025
- Automotive
- Motor 1
Porsche Hikes Prices Again Due to 'Market Conditions'
A Porsche being expensive is not news. These cars always have been, and always will be. But, recently, the automaker implemented price increases across its entire lineup, citing "market conditions." Initially brought to our attention by Road & Track , Porsche has since confirmed these price increases. "With our customers front of mind, we keep a regular watch on market conditions, absorbing costs where we can and making adjustments only when it's absolutely necessary to do so," a spokesperson said in a statement. "Where possible, we have taken steps to support our customers, but market conditions necessitate incremental adjustments to MSRP. The price adjustment encompasses all models and varies from model to model, from between 2.3 and 3.6 percent." Here are the previous and current prices for each Porsche base model. Model New Price Previous Price Increase 2025 718 Cayman $77,395 $74,795 3.5% 2026 911 Carrera $134,650 $129,950 3.6% 2026 Cayenne $91,950 $88,795 3.6% 2026 Macan $66,950 $65,350 2.4% 2026 Panamera $112,450 $108,550 3.6% 2026 Taycan $106,250 $102,550 3.6% Porsche also tells us, "market conditions necessitate incremental adjustments to individual option pricing and delivery fees from time to time." So, depending on what options your car has, the new price may be more than 3.6 percent higher than it was a few months ago. Porsche didn't blame tariffs specifically here, but it's one of a handful of volume automakers that doesn't make cars in the US. The company builds all its cars in Germany, except for the Cayenne, which is made in Slovakia, and in very small numbers in Malaysia for that market only. The Trump administration put a 25-percent tariff on imported automobiles and automobile parts in place back in April, on top of a preexisiting 2.5% import duty. Trump on Saturday threatened a 30-percent tariff on all goods from the EU . This, of course, would apply to all Porsche cars. Earlier this year, we reported that Porsche is considering starting US production . Obviously, its customers have long been used to paying premium prices for their cars, and while a 3.6 percent increase might not be a huge deal for 911, Taycan, and Panamera buyers, it could be an impediment to customers of less expensive, larger-volume models like the Cayenne and Macan. Porsche is in a precarious situation right now. Its sales are down globally—especially in China, where buyers are rejecting non-domestic automakers—and customer response to EVs like the Taycan and Macan Electric is less enthusiastic than the automaker hoped. US sales have remained strong, but buyers here aren't adopting EVs as quickly as everyone (including Porsche) thought they would, and tariffs are complicating everything. It just illustrates the rewriting of the automotive order. Up until recently, Porsche was the envy of the auto industry, wildly profitable and beloved by so many. That's still true today, but the picture is not as rosy in Stuttgart as it once was. More on Porsche Porsche: New Cayenne 'Will Shape the Future of Electric Driving' The Electric Porsche Macan Is Outselling the Gas Model. But There's More to the Story Get the best news, reviews, columns, and more delivered straight to your inbox, daily. back Sign up For more information, read our Privacy Policy and Terms of Use . Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
