Porsche Sticks to Guidance as Turnaround Efforts Begin to Pay Off
By Dominic Chopping
Porsche AG confirmed its full-year guidance as the German luxury sports-car maker continued to reap early benefits from a strategic reset.
The company earlier this month laid out plans to become more exclusive as part of a broader push to increase profitability in the coming years that also includes continued cost cuts and streamlining throughout the company's organization.
Presenting the automaker's strategy to 2035 at an investor event three weeks ago, Chief Executive Officer Michael Leiters said Porsche would offer more higher-end vehicles and hike the price of these models by about 20%.
The move builds on earlier plans detailed by Leiters that include divesting noncore assets, investing in new gas-powered and hybrid models, focusing on profits over sales volume and reducing the number of model variants.
The sale of its stakes in hypercar joint venture Bugatti Rimac and electric-vehicle maker Rimac Group closed in the third quarter, resulting in a gain of 593 million euros ($662.6 million) that boosted its earnings in the period.
"We are implementing our strategic realignment consistently and at a rapid pace," Leiters said. "Our focus is on our core business, a competitive cost structure and a sustainable increase in our profitability."
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
October 27, 2026 03:19 ET (07:19 GMT)
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