Porsche is set to post a major quarterly loss as CEO Oliver Blume ends his ten-year tenure. The company faces a sharp decline in China, rising US tariffs, and mounting costs from its troubled shift to electric vehicles, Reuters reports.
Michael Leiters, former McLaren boss, will take over in January. Investors hope he can revive demand in China and guide Porsche through its EV challenges, though confidence remains weak.
Analysts expect a €611 mln operating loss for the third quarter, compared with a €974 mln profit last year, largely due to €1.8 bn in EV-related costs.
Blume predicts recovery by 2026, but experts warn it could take up to five years. Porsche’s sales in China have halved since 2022, and margins have plunged from 18% to about 2%.
Leiters now faces job cuts, restructuring, and the task of restoring Porsche’s appeal in an electric age.
Kursiv also reports that Porsche has recently introduced the Macan GTS, the sportiest version of its all-electric SUV.
