Porsche

Volkswagen posts €5.8 billion Q3 loss on Porsche writedown

Volkswagen lost 5.8 billion euros ($6.5 billion) after tax in the third quarter. One-time charges added to weak demand in China, U.S. tariffs and lower profits on electric vehicles, the Associated Press reported. The company's operating loss was about 5.9…

Skoda overtakes Porsche as VW Group’s top profit engine

Volkswagen disclosed a roughly €6 billion goodwill impairment on its 75 percent stake in Porsche last Friday, September 18, as part of a broader profit warning that sent shares tumbling and underscored how far the once-prized sports car brand has…

Volkswagen shares slide as analysts downgrade after profit warning

Volkswagen confirmed late on Friday that it now expects an operating margin of no more than 1% for 2026, a dramatic reduction from its previous guidance of 4% to 5.5%, after flagging approximately €10 billion in exceptional charges dominated by…

Porsche faces 4,100 more job cuts under VW restructuring

Volkswagen's turnaround plan calls for roughly 4,100 additional job cuts at its sports car subsidiary Porsche Dr. Ing. h.c. F. Porsche AG, German business daily Handelsblatt reported on Saturday, piling further pressure on a brand already grappling with collapsing sales…

Porsche signs $1.5B AI deal with TCS, sells consulting unit

Porsche announced on Monday a five-year partnership worth 1.25 billion euros ($1.5 billion) with Tata Consultancy Services to deploy artificial intelligence across its operations, while also agreeing to sell its IT consulting unit MHP to the Indian software services giant…

Porsche plans to end flagship Taycan EV by 2030

Porsche is preparing to phase out production of its flagship Taycan electric sports car by 2030, according to a report Thursday from German business magazine WirtschaftsWoche, marking a retreat from the automaker's once-ambitious electrification plans.

VW reports flat revenue as it plans to halve model range by 2030

Volkswagen Group disclosed its first-half 2026 results this week, revealing an automaker caught between stable top-line revenue and shrinking margins as it embarks on what CEO Oliver Blume called "the most comprehensive and strategically far-reaching future program" in the company's…

Porsche’s H1 operating profit jumps 34% despite delivery slump

Porsche AG Dr. Ing. h.c. F. Porsche AG reported a 34% jump in first-half 2026 operating profit on Wednesday, delivering stronger-than-expected margins even as the German luxury carmaker grappled with falling revenue and a steep decline in vehicle deliveries.

Porsche to cut 9,000 jobs by 2035 as restructuring deepens

Porsche announced on Monday that it will eliminate a total of 9,000 jobs by 2035, roughly one-fifth of its global workforce, after management and labor representatives agreed to a second restructuring package under CEO Michael Leiters.

Jetta, Taycan among 10 models VW may axe, Bild reports

Volkswagen Group announced a sweeping "Future Plan" last week to cut its global model portfolio by up to 50 percent by 2030, and on Monday, German newspaper Bild reported a preliminary list of 10 models that could face elimination —…