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Yahoo
2 days ago
- Automotive
- Yahoo
Porsche CEO seeks fresh cost cuts, warning business model ‘no longer works' in post-Trump, new China world
Porsche CEO Oliver Blume warned the nearly 37,000-strong German workforce he will negotiate with its labor union in the coming months over further cost cuts. Already, it plans to eliminate more than a tenth of its staff by 2029 to position the brand for a world where it sells only 250,000 cars annually, rather than the 311,000 it achieved last year. A combination of plunging demand in China and effects from Trump's economic agenda are hitting the export-reliant luxury sports car maker hard. Once the envy of the entire German auto industry, Porsche is drifting deeper and deeper into its biggest crisis in decades. In a letter to employees, the manufacturer of the iconic 911 sports car informed its 36,700 domestic workforce it would enter negotiations with the IG Metall trade union over a second package of cost cuts designed to protect profit margins. The latest reductions are expected to come on top of the already 3,900 job cuts planned in Germany through 2029, designed to shrink the company's cost base to reflect a world where the brand sells only 250,000 cars annually instead of the 311,000 achieved last year. Chief executive Oliver Blume, who splits his time running both Porsche and its majority owner Volkswagen Group, warned staff that they would have to gird themselves for difficult times to come. 'Our business model that sustained us over many decades no longer is functioning today in its current form. Business conditions have deteriorated massively within a short period of time,' Blume warned his employees in comments obtained by Fortune. They were first reported on Friday by the German media. He cited a pair of related contributing factors, starting with China, where first-half vehicle sales plunged 28% to their lowest level in eleven years amid a brutal price war, particularly for EVs. The brand had once sold 95,700 cars there in 2021, an all-time record—at its current pace, it would be lucky to get half that result this year. This bled into another issue: a slowdown in the adoption rate of its EVs. Now it no longer expects an 80% share of its volumes to come from fully-electric cars by 2030 as realistic, preferring not to give a forecast any longer. This, however, heavily impacts Porsche and its supplier base, given the investments already made in new products like the electric Macan. 'On the one hand we need EVs to fulfil regional CO2 regulations,' Blume wrote, 'but on the other the profit margins are far below those of our combustion engine cars.' Trump a double disaster for Porsche — weak dollar, high tariffs He didn't stop there, though: without actually mentioning Trump by name, the Porsche CEO said the U.S. poses its third major problem. Demand there ironically has never been better, and yet it is suffering under the combined weight of the current administration's economic policies. These have sparked a sharp decline in the U.S. dollar versus the euro that, together with its punitive regime of tariffs, darkens the outlook for the export-reliant carmaker. 'Despite a delivery record in the first year, we are under enormous financial pressure,' he admitted, referring to the U.S. market. The result is a company whose operating margin is currently forecast by management to shrink to between 6.5% and 8.5% from 14.1% in 2024. Even during the dark days of the 2008-09 global financial crisis, Porsche's sports car business could still maintain an operating return on sales in the double digits. 'A further profit warning with Q2 results seems likely,' wrote UBS, estimating Porsche's operating margin could be guided down to 5%-7% given current guidance only includes the effects from U.S. tariffs for the months of April and May. Once the world's third most valuable carmaker after Tesla and Toyota, Porsche shares lost 29% so far this year. Anyone who poured money into Porsche's September 2022 public offering of stock—Europe's largest in over a decade—is currently sitting on losses short of 50%. At the same time that Porsche is facing its biggest crisis in decades, the company is also in the process of overhauling half its senior management team with four new C-suite executives in charge of finances, sales & marketing, personnel, and procurement. The company confirmed the tenor of the letter, but declined to comment further. This story was originally featured on
The Herald
2 days ago
- Automotive
- The Herald
Entry-level VW T-Cross could be the pick of the range
Yes, it looks quite demure, with its modest 16-inch black alloys and plain dressing, compared to the garnishes of the Life and R-Line. However, for the buyer who is less image conscious, that is fine. Same goes for the cabin, with its conservative, dark hues. It would be fair to say the cabin does not match the surface level pizzazz of a Chinese equivalent. However, build quality is excellent, with the overall feel that it would last well beyond a decade of hard use. Even better news is that unlike before, the dashboard top surface is finished in upmarket, soft-touch material. The basics from an equipment perspective are covered. That includes a digital instrument cluster, multi-function steering wheel, electric windows all-round, electric side mirror adjustment and six airbags. All models in the range make use of a 1.0 l , three-cylinder, turbocharged-petrol unit. State of tune in the basic manual model is 70kW/175Nm. The five-speed gearbox is a pairing most complementary, allowing the driver to wind out the motor. Clutch action is short and defined, while the lever itself has a nice weight to it. Average fuel consumption over 500km was 7 l /100km. In a changing landscape, the substance of the T-Cross holds appeal to buyers who trust the proven longevity of legacy brands such as Volkswagen.
Auto Express
6 days ago
- Automotive
- Auto Express
Car Deal of the Day: Cupra Terramar is an upmarket family SUV without a premium price tag
Upmarket look and feel Practical family SUV; frugal mild-hybrid power Just £238.85 a month – cheapest we've seen so far Ever since the Volkswagen Group hived off Cupra from its SEAT mother-brand in 2018, it has traded on an image of upmarket performance cars with a strong dose of everyday ease-of-use. Advertisement - Article continues below Since then, Cupra's model range has broadened and its latest offering is the Tavascan – a family-sized SUV with that distinctive racy image. However, our Deal of the Day goes to show that this premium appeal doesn't have to come with a premium price tag. Leasing deals on the Terramar have been slowly getting cheaper and cheaper in recent months, with this offer being the cheapest we've seen so far. Via the Auto Express Find a Car service, Leasing Options is offering the sporty SUV for just £238.85 a month right now. An initial payment of £3,216.19 is all that's needed to get the ball rolling, and it's a two-year deal with a 5,000-miles-a-year cap. But should you need more, an 8,000-miles-per-annum plan can be arranged for just an extra £22 a month. This deal only gets you the entry-level V1 trim. But, with Cupra's mission to offer a premium feel on all of its cars, you won't feel short-changed with the cheapest model. Skip advert Advertisement - Article continues below V1 trim gets you 18-inch alloys, LED front lights and rear lights with configurable designs, three-zone climate control, a heated and leather-wrapped steering wheel, front bucket seats, plus a 12.9-inch touchscreen with Apple CarPlay and Android Auto and sat-nav. Powering this Terramar is one of Volkswagen Group's excellent 1.5-litre four-cylinder turbocharged mild-hybrid petrol engines. With 148bhp, it's a punchy unit and is paired with a slick seven-speed dual-clutch automatic gearbox, while that mild-hybrid system boosts fuel economy to over 47mpg. It's a nice car to drive, with sharp steering helping to give a sporty feel. The inside reflects Cupra's premium aspirations with a high-quality feel and plenty of copper detailing. It's a roomy SUV, too, with a 540-litre boot that can be enlarged to 630 litres when the rear seats are slid forwards. The Car Deal of the Day selections we make are taken from our own Auto Express Find A Car deals service, which includes the best current offers from car dealers and leasing companies around the UK. Terms and conditions apply, while prices and offers are subject to change and limited availability. If this deal expires, you can find more top Cupra Terramar leasing offers from leading providers on our Cupra Terramar page. Check out the Cupra Terramar deal or take a look at our previous Car Deal of the Day selection here… Find a car with the experts New Xiaomi YU7 2025 review: a world-beating new EV to worry the establishment New Xiaomi YU7 2025 review: a world-beating new EV to worry the establishment BMW or Mercedes would do anything to keep the new Xiaomi YU7 from sale in the UK and Europe, and this is why Electric Car Grant in detail: Which cars will get the UK EV discount? Electric Car Grant in detail: Which cars will get the UK EV discount? The government has set out its plan to help reduce the cost of affordable EVs by introducing a new £3,750 Electric Car Grant for new EVs sold under £3… Electric Mercedes CLA Shooting Brake will keep going long after rivals need to stop Electric Mercedes CLA Shooting Brake will keep going long after rivals need to stop The second of Merc's new-era EVs is here in the form of an attractive estate with a huge range
The Guardian
7 days ago
- Business
- The Guardian
Drowning in admin? 14 productivity hacks to regain control of your diary, inbox
Some of us are utterly hopeless with admin, others so good they do it for a living. What are the best ways to get your working life under control? Administrators share their productivity tips and efficiency hacks. 'First thing in the morning, I spend half an hour going through emails and making a plan for the day,' says Claudine Hopgood, an administrator for the heads of product planning and network sales at Volkswagen Group UK in Milton Keynes. 'You can never schedule 100% of your day; I schedule 80%, and the other 20% is to allow for unforeseen interruptions.' 'Have a good overview of your week,' says Suzanne Ekpenyong, the lead virtual assistant of an agency of VAs that she runs from Woodford, east London. 'Check your availability and whether it works for you. Do you have enough desk time? Are you travelling too much? Does it work around your personal life? What is your energy going to be like that week? I think everybody should get into the habit of looking at their diary from an energy perspective and seeing if there is enough balance there.' 'I eat the frog first,' says Hopgood, referring to motivational speaker Brian Tracy's theory that you should start the day with your most tedious task to get it out of the way. 'Procrastination is king. If you continually put off the three tasks you have to get done, you know they're not going to get done. So get them done first and get the dopamine hit afterward.' 'Make sure you have notifications set up on your diary system,' says Ekpenyong. 'Google or Outlook might give a notification 15 minutes before something starts but, when you set up the meeting or appointment, it is useful to put in a notification three days before, two days before, and so on, so that you're on top of your preparation. This helps you to not stress at the last minute.' Craig Bryson agrees. The executive assistant at a private equity company in Mayfair, who hosts a podcast for administrators, says: 'I use my mobile calendar to remember birthdays and anniversaries – I have 46 cousins, so I need to be on top of that. I always hear the comment, 'Oh, you're a man – are you able to multitask?'' 'This is great for culling your inbox,' says Ekpenyong. The Ds stand for do, defer, delegate and delete. 'Do what you need to do in the moment; defer it until later, so it might go on your to-do list at that point; delegate it to someone else – that's amazing because then they can crack on with it; and the most wonderful thing is deleting things that you don't need, you've already done, that are no longer relevant – they can go straight in the bin.' 'I'm motivated by the challenge and excitement of thinking, 'Today's the day I'll reach inbox zero',' says Bryson. 'I never do, but I think it's about the passion of trying.' 'Inbox zero is just the best way of working,' says Jess Branch from St Albans, personal assistant to Simon Allford, architect and co-founder of Allford Hall Monaghan Morris. 'Especially working with my jobshare, Georgia. We use it as a very clear gauge when we are trying to work out our workload. We categorise all our emails: red is an email that needs to be actioned, green is an email that is waiting on a reply. So it is basically using your inbox as a to-do list and just constantly trying to get it down so you feel ahead of the game.' 'I'm a big list-maker,' says Ekpenyong. 'I use the Asana app, a project- and task-management system. But sometimes it is quicker just to grab a pen and pad and write down your three top priorities because sometimes, when you're really busy, it's really easy to think, 'I can't cope.' That is why I swear by a 'must-do' list, which is different from my to-do list. These are the things you know are very critical and must absolutely happen that day. Anything else is a bonus.' She also recommends keeping a 'ta-da list' of everything you have completed: 'It gives you a great sense of achievement, which is often what you need to keep going with the rest of your to-do.' 'The Notes app on my phone is my saviour,' says Shanice Robertson, a virtual assistant based in Aberdeen. 'I've tried a few apps but honestly, between my notebook and the Notes app on my phone, I think old-school is the best way.' Hopgood adds: 'I have a 3am brain-dump notebook by the bed of just random things.' At work, she has a pen on her lanyard for 'when you're on the fly, you're going to a meeting and somebody stops you. I've always got a small notebook with me that fits in my pocket so I can quickly scribble something down.' 'Always write it down,' agrees Bryson. When the executive he works for calls him in, he grabs a pad, 'because, by the time you get back to your desk, you've probably forgotten exactly what you got asked to do that is important. Your brain is more for ideas and not storage.' 'I use AI to tell me to do stuff,' says Branch. 'When I make my packed lunch for the next day, I will say, 'Alexa, set an alarm for 7.20am for me to take my lunch out of the fridge.' So while I'm running around, getting my girls out of the house, Alexa will say, 'Don't forget to take your lunch.' Sometimes, I will go to [Microsoft's AI assistant] Copilot, and say, 'I need to write an email. It needs to include this, this and this. How should I do it?' And I'll just put the facts in, and then it will write an eloquent email that would have taken me 10 minutes.' 'If you are feeling overwhelmed,' says Robertson, 'you could put into ChatGPT, 'Tomorrow, I've got to do this; can you work out a plan for me? Break it down into 15-minute goals', and then you'll feel better about the next day.' Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion 'Copilot and ChatGPT are massive time-saving tools,' says Hopgood. 'You can enter a report and ask for a PowerPoint of 80 slides. You can put a document in and, within seconds, you have a really accurate summary that would have taken you two hours. I joke to my boss, 'You won't need me any more.' But we will still need people. It's about using AI to your advantage.' 'Sometimes I'd rather stick pins in my eyes than fill out another Doodle poll [to agree a time for a meeting],' says Branch. 'If I'm dealing with PAs in other companies, it is much easier to just pick up the phone.' Alternatively, send a voice note, says Robertson: 'If I'm in the middle of a task and I remember I need to tell a client something, I'll just quickly do a voice note – you can work away while it's recording.' Robertson is a fan of the American author Mel Robbins' five-second rule: 'She was lying in bed and she'd seen a rocket on TV the night before, shooting into space, so thought, 'I'm going to count down 54321 and then launch myself like a rocket.' 'If I find I'm scrolling on my phone, or if I'm thinking about doing a task, I say to myself '54321' and I just do it.' 'I love being distracted,' says Hopgood, 'so I do this thing called 'tactical hiding' where, if I have something that needs to be done, I will leave my desk. I tell one person where I'm going. I go offline, and I put my phone away. There is a really good app called Forest and, if you have a job, you put in an hour and it grows [virtual] trees. If you pick up your phone and go on to Instagram or something, all your trees die. At the end of the week, you can see how many trees you've grown.' Inevitably, even the most organised people sometimes forget things and the admin assistants all agree you have to have some perspective on this. 'If you put the wrong link in an email, is somebody still going to be talking about that five years later? No,' says Branch. 'Sometimes things do go wrong, and that's fine, because I'm not perfect.' 'Own up to mistakes,' says Hopgood. 'Just put your hands up and say, 'I messed up. I forgot to do that. This is what I've done to put it right.' But just own your mistake. There's no point trying to cover it up, because you will always be found out.' 'There is no such thing as perfection,' says Bryson. 'When we make mistakes, we have to think, 'I will never do it again, because I remember the feeling from that mistake.' We learn from them, which is a great thing.' 'When I go on holiday, I delete Teams from my phone,' says Branch. 'There is no reason for me to know anything. I care about my job very passionately, but it isn't life or death.' During the working day, she says, 'make sure you're standing up and moving around, taking a trip to the photocopier or whatever, and taking breaks. Sometimes, if you have loads and loads to do, it feels like the thing you should do is sit at your desk until it's done. But you need to have a lunch break, and you'll be so much more productive when you come back.' 'You just have to switch off,' says Bryson. 'I've heard of people taking a month off work as a result of burnout, because they always reach for their mobile just to see whether there are any messages at 8pm. I have a family and a life I want to be able to focus on. You have to create boundaries to help protect your mental health.'
Motor 1
14-07-2025
- Automotive
- Motor 1
Low, Long, and Languid Make For Bentley at Its Best
Sure, Bentley flew me to Montana to see its headlining act, the new Bentayga Speed. But before an afternoon return flight on day two, there were some other Bentleys to consider, lined up in the horseshoe driveway of our Big Sky hotel. The big(ish) news here among the assembled non-Bentaygas is that hybrid V-8s now power the entirety of the Continental GT and Flying Spur ranges, tuned to varying horsepower and torque figures based on trim, but always with at least 670 horsepower and 685 pound-feet. Bentley insists this streamlining is a benefit, that its customers don't miss the hallowed W-12 engine which used to power the big bruisers in its portfolio. Proof is in the sales, they contend. W-12 purchases tailed off toward the end of the engine's production run, while these subsequent V-8 Hybrids have proven massively popular, contributing massively to Bentley's position as Volkswagen Group's cash cow. Photo by: Kyle Kinard / Motor1 More importantly, the cars prove the point about hybrid V-8s themselves: This powertrain sounds great and drives beautifully. I'll call it perhaps the most-refined hybrid powertrain on earth. As an engineering curiosity and connection to Bentley history, the W-12 can't be replaced. From the driver's perspective, the V-8 hybrid ensures the outgoing W-12 won't be missed. In slow-moving residential areas surrounding the resort, the kick of hybrid torque eases each Bentley effortlessly up short, punchy climbs without a single extra iota of strain from the drivetrain. No kicking down two or three gears when you squeeze the gas pedal, interrupting the sensation you're rolling along on a breeze. Instead, there's simply silent, effortless, assured propulsion from the hybrid motor. So often, hybrids are masterful partners for economy cars but rarely improve sports or luxury cars. These Bentleys provide an exception to the rule. A hybrid lineup isn't much to write home (or to readers) about, but I was overcome by the overwhelming Bentley-ness of both cars I tested. After a 45-minute rip in the Continental GTC, I simply scribbled superlatives in my notebook. Photo by: Kyle Kinard / Motor1 "This is a ****** Bentley, baby," I wrote. "Like putting on a diamond necklace." Now, I don't actually know what it feels like to don a diamond necklace, probably because I'm bound by the stolid shackles of masculinity. (Also I can't afford to browse at Tiffany, so let's go with the shackles). But if you're spending the cost of a nice Midwestern home on a form of transportation, maybe a diamond necklace on wheels is the sort of hyperbolic emotion worth wheeling out of your driveway. That's all to say: I can get my stealth wealth hit from the back seat of a Genesis G90 or an S-Class on 19s; We look to Crewe to deliver something of such sublime quality and style that it stirs us emotionally. So, first up, the Flying Spur Touring. Nice name to say. Green roof over striking silver body, the paint blends so seamlessly that your fingernail can't tell where one layer begins and another ends. Photo by: Bentley This is classic Bentley, long and low and made of boxy shapes that seem to be sanded down so perfectly at the edges, you imagine water dripping off the thing even when it's sat under Montana's cobalt sky. However you look at it, the Flying Spur is breathtaking. As much as I enjoyed the Bentayga Speed and its vast capabilities, the Flying Spur is simply the Bentley closest to my heart. I suppose it's impossible to explain—though I'll try—but with the Bentleys that ride closer to the ground instead of parading around like The Mayor of Monaco on 23-inch wheels—well, there's just something a bit more… Bentley about a Flying Spur. Some restraint. "A whiff of Gentry about this one," I scribbled into my notebook following that wafty little stint in the Flying Spur. Photo by: Bentley What does that actually mean? Well, the Flying Spur's drivetrain doesn't punch theatrically at your backside when its transmission shifts during a flat-foot quarter-mile blast, unlike the Bentayga's mill. The Spur's hybrid system simply smears the gear shifts together like a swipe of warm honey down your back while the engine note boils over gruffly on a swell of syrupy, easy mega-torque. And perhaps it's just how this Flying Spur was spec'd by Bentley, but there's a stateliness to the Flying Spur's interior that fits better with my own preconceptions of the Bentley namesake. The 'Cumbrian Green' leather is laid across the Spur's interior by the yard, swathing the interior in a shade of avocado-skin that feels at once rich, luxuriant, and assured in its stateliness. You imagine a new life from behind the wheel of a Flying Spur. This one is full of tartan-lined waxed cotton jackets and maybe a Labrador riding shotgun. The vast leather surfaces are broken only by white contrast stitching and a walnut veneer stretching across the lower dash and center console. This dash layout looks slightly outdated compared to the Bentayga, but it just fits the Flying Spur. Photo by: Kyle Kinard / Motor1 Also of note: Bentley's new "Azure" trim. Azure is a styling package, essentially, sat above the base model in terms of cost and prestige. It's meant to evoke a more easygoing yet overtly luxurious tone compared to the 'Speed' trim we sampled in the Bentayga on day one. 'Azure' arrives with a not-insignificant bump in bling, converting the exterior trim to mirror-polish brightwork and slapping a pair of silver wheels on the whole thing. Bentley's GT/C Azure convertible cranks the luxury up another notch, but in a sort of fresh, new-age way. If the Spur is a musty sort of throwback to British coachmaking's golden age, the Azure is new luxury; It attends kombucha-ayahuasca wellness retreats in Sonoma with the other girlbosses and gets there by private chopper. Photo by: Kyle Kinard / Motor1 You see that attitude throughout the interior of this blue-on-silver beauty. The leather quality and quantity match the Flying Spur's, but the Azure renders its interior in cooler shades, evoking a yacht's sleek ease. But then there's the diamond-pattern stitching holding each leather panel together, the visual depth of the beautifully painted trim pieces running along the dash, and in general, the way this interior looks like it's sitting inside a jeweler's glass display case. This is a beautiful interior, and I can't honestly say that about almost any modern car. Photo by: Kyle Kinard / Motor1 While more and more customers go to Bentley for their SUVs, I find that Bentley's cars offer a purer expression of the brand's traditional ideals. Even if you ultimately walk out of the showroom with a Bentayga's keys in your pocket, you owe it to yourself to consider the alternatives. Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
