Luxury carmaker Porsche's grim 2025 outlook sends shares down [Yahoo! Finance Canada]
PORSCHE AUTOMBL UNSP/ADR (POAHY)
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Source: Yahoo! Finance Canada
2 min read In This Article By Victoria Waldersee BERLIN (Reuters) - Porsche AG shares fell 7% in early Friday trade after the luxury carmaker forecast a preliminary profit margin of 10%-12% for 2025, far below expectations, as it struggles to boost flagging sales and weak demand in China. The forecast was a "major concern" for the carmaker, said Bernstein Research analyst Stephen Reitman, after its executives touted 17%-19% as its mid-term margin target at its stock market debut in 2022. Porsche AG said in a statement late on Thursday that it plans to launch new combustion engine and plug-in hybrid models, the latest carmaker to pivot back towards combustion engine vehicles amid low demand for EVs in Europe and intense competition in China from local rivals. The costs of vehicle development, and battery-related expenses at a subsidiary, would knock about 800 million euros ($830 million) off 2025 operating profit, the company said. Porsche in October 2024 invested 60 mil
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