Porsche: Profit plunges, EV share drops
Porsche reports a 24.6 percent profit decline in the first quarter, with declining sales of e-cars. A “Strategy 2035” is intended to improve the situation.
Electric car Porsche Taycan GTS Sport Turismo (Test)
(Image: Clemens Gleich / heise Medien)
The sports car manufacturer Porsche continues to announce downward business results: In the first quarter of 2026, its profit after taxes fell by 24.6 percent to 391 million euros. In the previous year, a surplus of 518 million euros was recorded.
With an operating group result of 595 million euros instead of the 762 million euros generated in the previous year, Porsche is within its estimates, according to its press release. Revenue from January to March decreased by 5.2 percent to 8.4 billion euros compared to the same period last year. The company attributes its ability to still achieve a positive return on sales of 7.1 percent, among other things, to its stance of prioritizing quality over quantity.
Fewer electric cars – higher margin
In fact, Porsche sold slightly fewer cars in the first quarter, with 60,991 compared to 71,470 in the first quarter of 2025. The management explained the decline of 15 percent primarily by the end of production for its combustion engine Cayman and Boxster models and the withdrawal of e-car subsidies in its important US market. The share of battery-electric cars fell from 25.9 to 19.8 percent year-on-year. Porsche was able to increase the net cash flow margin for its cars from 2.5 to 7 percent.
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The brand, with deep roots in the Volkswagen Group, which designed the VW (KdF-Wagen) as an engineering service provider starting in 1934 before building up its sports car production after the war, aims to counter current turbulence with a realignment. The so-called “Strategy 2035” is to be presented in the fall.
(fpi)