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Tag Archives: Porsche ag
Porsche Posts Preliminary 2024 Results
Porsche AG said late yesterday it expects these results (unaudited) for the 2024 financial year: The automotive net cash flow margin is over 10% (forecast 7 to 8.5%). The return on sales is at the lower end of the forecast range. Other performance indicators “do not show significant deviations from the forecast ranges.”
However, Porsche said it would incur an €800 million (~$831 million) charge against operating profit this year because of the cost of introducing new models with internal combustion engines, as well as plug-in hybrids. Continue reading
Porsche Sales Weak Through Q3 2024
Porsche AG today posted sales declines for the first nine months of the year. Overall global sales at 226,026 dropped -7%. China sales at 43,280 plunged -29%. “This reflects poor economy in the Chinese market” that is affecting all makers. Worse, there is now an outright trade war over tariffs between the EU and China. North American sales at 61,471 dropped -5%. In Europe (excluding Germany), Porsche delivered 52,465 vehicles in the first nine months, an increase of 1% compared to the same period last year. In the home market of Germany, the number of vehicles delivered rose by 8 % as 26,838 units were delivered to customers.
“Customer demand remains at a robust level and the feedback from our customers on the new models is very good. As product availability increases, we are optimistic about the final spurt for 2024,” claimed Detlev von Platen, Member of the Executive Board for Sales and Marketing at Porsche AG. Continue reading
EV Moves – Porsche Grabs Majority Stake in V4Drive Battery
“Varta and Porsche are already working closely together on the topic of high-performance battery cells. With the planned majority takeover of V4Drive, we aim to drive the company forward and would make an important contribution to keeping key technologies in Germany,” said Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT at Porsche AG. Continue reading
Posted in auto news, electric vehicles, environment, manufacturing, milestones, mobility company, news analysis
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino, Lutz Meschke, Nördlingen, Porsche ag, V4Drive, Varta AG, X @KenAutoinformed
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Porsche 2024 Annual Meeting Sweep. Dividend Doubled
“In 2023, Porsche impressed while realizing all its ambitious forecasts. Our financial position is robust and, even in uncertain times, we remain highly profitable. For Porsche, 2024 is a year of new product launches, with the biggest model launch program in the company’s history. In the past months we have launched new models for five model series. We are thereby laying the foundations today for our profits tomorrow – and for future dividends,” said Oliver Blume, Chairman of the Executive Board. Continue reading
Porsche Posts €1.8B Operating Profit in Q1 2023
Porsche reaffirmed its targets for the full year 2023. The assumption for Group sales revenue ranges from €40 to €42 billion euros. “In the event that global challenges do not significantly worsen, we expect a Group operating return on sales for fiscal year 2023 in the range of 17% -19%,” said Lutz Meschke, Deputy Chairman of the Executive Board and Board Member for Finance and IT at Porsche AG. “In the long run, we are aiming for a Group operating return on sales of more than 20%.” Continue reading
Porsche Customcells JV adds Cellforce on Manufacturing Lithium Ion Batteries as the P3 Group Leaves
However, use on a race track does not necessarily require the battery to function in sub-zero temperatures nor remain stable for years over many charging cycles – goals which have yet to be achieved with this new cell technology. Continue reading
Porsche Sets Half Year Sales Record. Again
This makes the first half of 2018 the most successful in the company’s history. It also means that Porsche is now predominantly a sedan and crossover maker. Continue reading
Posted in marketing, sales
Tagged autoinformed.com, Detlev von Platen, Ken Zino, Porsche ag
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Porsche Extends Lutz Meschke’s Job for Five Years
Porsche has a profit target of more than 15%, but is part of the Volkswagen Group that is enmeshed in a company threatening Dieselgate emissions scandal. Continue reading
Posted in people
Tagged autoinformed, autoinformed.com, Ken Zino, Lutz Meschke, Porsche ag
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Porsche AG Board Drastically Cuts 2025 Annual Dividend ~50%
“This is a responsible approach for the company and its stakeholders,” said CEO Dr Michael Leiters. “We are ensuring financial flexibility during this transformational phase and systematically supporting our strategic realignment. The management’s goal remains to sustainably strengthen the robustness of the business model and create long-term value.” Continue reading →