Porsche may be in (big?) trouble...What you think?

[JohnnyRoaster]

I found this article in my mail this morning...

https://www.autoguide.com/auto/manufacturers/porsche/porsche-backs-down-on-ev-plans-44614075

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[Mr_Frenchy]

yeah sorry - but what to do

Watch the video then click on -

 

[Jawohl]

From the Porsche Q3 2024 report:
From January to September 2024, the Porsche AG Group
recorded a decline in both sales revenue and operating profit compared to the prior-year period. Sales revenue decreased from €30,132 million to €28,564 million. Operating profit fell from €5,501 million to €4,035 million. In the first nine months of 2024, the operating return on sales of the Porsche AG Group was 14.1% (prior year: 18.3%) and the automotive EBITDA margin was 23.0% (prior year: 25.5%).
The automotive net cash flow came to €1,235 million
(prior year: €3,386 million). The automotive net cash flow
margin stood at 4.8% (prior year: 12.2%).
Deliveries remained stable, falling moderately by 6.9% to
226,026 vehicles. The automotive BEV share stood at 7.3%
(prior year: 11.6%).

They are in a downturn, like all car manufacturers, but still making money.

 

[krissrock]

"When it comes to research and development, youll see more flexibility in the upcoming years. We will develop new combustion-engined derivatives of electrified cars in order to give the right answer to customer demand."

so the above info, along with this statement... is what all the "journalist" are getting boners over...

it's confusing cuz they only have two electric models...one has an ICE counterpart, the other has very similar ICE counterparts.

so does this mean they're just going to slap a Taycan badge on one of they 911's ?

 

[Fly4ever]

...With a roughly estimation by the end of the year total sales globaly will probably peak at 300.000 units,maybe slightly more.It's not that bad however this is something worth special attention to minimize any future losses or maybe even reverse the situation.

 

[krissrock]

I think this means they're gonna make more hybrid models

 

[Senna]

The Electric Viking for looks someone which has no glue about cars, for him cheaper is awayles the best. If the car has the on paper same features with the better price on his mind is a better car, in summary four wheels and better price wins. I saw some Chinese cars being test in the Germany autobahn, some of it is so unstable when hit 180 km/h (112 mph) making very evident the quality of those cars. For him the Chinese car manufacturers will dominate the world. He don’t appreciate goods cars specially Germany cars. The Electric Viking, someone who has no interest in cars, believes that cheaper cars are better. If a car has the same features as a more expensive one but is cheaper, he considers it a better car. In his opinion, four wheels and a lower price are the ultimate combination. I’ve seen some Chinese cars being tested on the German autobahn, and some of them were incredibly unstable when hit at 180 km/h (112 mph), which clearly showed the quality of those cars. He believes that Chinese car manufacturers will dominate the world. He doesn’t appreciate German cars in particular.

 

[Yves]

The Viking is for me a useful resource in finding the latest news, I never watch the video’s fully, like a minute or 2, and than I google the topic he is talking about … so you are up to date, but without the nonsense this guy babels …

 

[Awaz]

The Viking is for me a useful resource in finding the latest news, I never watch the video’s fully, like a minute or 2, and than I google the topic he is talking about … so you are up to date, but without the nonsense this guy babels …

And when you go to the source news, it's often different to what he is blurting out.
Basically, he is just reading others articles. This dude knows very little, his knowledge is superficial, sans any research despite claiming to read ‘100s of articles a day as his job’. So he said once

All day he searches clickbait news and churns it into a video, spices it up with his own masala, misinformation, and hyperbole. If you search the same news yourself, the facts are often very different.
He ends up pivoting from one video to the next, without even realising he said something opposite before. He is definitely not the sharpest tool in the shed

Once he threatened to close his channel if he was proven wrong when he claimed Tesla is not shedding staff, but never even bothered to apologise that he was wrong:
Tesla Stock Liar Fake Shut Down

 

[bbmertz]

More bad financial news today from Volkswagen parent company:
https://www.cnbc.com/amp/2024/10/30/volkswagen-q3-2024-results.html

 

[Diego]

Well I don't know if it's something to care about but yesterday evening I was at my dealer to get my winter tires and I had to wait half an hour to speak with him because "he's very busy with new customer that never looked at the brand before". I think that something (at least here in Europe or in Italy) has to change. For years governments gave money to customer to buy "environment friendly" car and never cared if then the customer bought a car made in china from a Chinese (or not) brand. Where the money went?
Perhaps the time has come to say to the manufacturers, “here's some money to produce an environmentally friendly car that must cost XX made in Europe by keeping the factories open". Instead the only thing that has been done is to put a tariff on Chinese (electric) car imports....
North of Milan until 2008 there was a very active section producing sheet metal for the VW group. With the 2008 crisis, the group moved the production of those components back to Germany (and it seems to me that the same was done with the Spanish factories).
In Italy we had a critical case related to government funding for years to the FIAT group (now Stellantis) comparable to a state subsidy so the thought of giving money to manufacturers worries me but I think it is the only opportunity to get out (not in 2024 but not even in 2025) of this crisis.

 

[TurboSpain]

It is clear that the automotive world is changing, premium brands are losing market share in China. For the Chinese, the concept of premium has changed, now it is having 20" screens, karaoke and having the car greet you by name. Perhaps Porsche sales will suffer, but I think that in many places we continue to appreciate superior driving. Porsche It did well with the Taycan and the Macan and maintains a healthy profit margin per unit sold that should be enough to innovate and continue creating vehicles for all of us who appreciate it.

 

[Fly4ever]

...I think the main problem with European EV manufacturers is twofold: Mainly because their software falls behind Tesla and the Chinese ones while at the same time their prices remain considerably higher than competition,off course due to higher labor and energy costs here in EU. For the same reasons European cars are rejected by Chinese people alongside the facts TurboSpain described above.Seems like European automotive industry caught in the "perfect storm" situation right now,in fact the first signs had already started years ago but they lack the ability to take any bad sign into strong consideration and change route accordingly.
In short terms Europe produce - or try to produce - cars that are literally more on the "car" side and less on the cellphone/computer side,something the Asians obviously rejecting.Additionally I believe their rejections is also due to a reaction to EU policy concerning their cars import in Europe in a sense: "You submit my cars with extra tariffs destroying my exports in EU market?I will not buy any of yours then!" And in a war like this unfortunately isn't the Europeans we have the upper hand,at least not the way they try to cope with the situation.

 

[Fly4ever]

...More or less what we're saying over here:

 

[Jawohl]

.... FIAT group (now Stallantis) comparable to a state subsidy so the thought of giving money to manufacturers worries me but I think it is the only opportunity to get out (not in 2024 but not even in 2025) of this crisis.

Did you mean to call Stellantis, Stallantis? Because that is brilliant! They surely operate like Stalin. What happened to Fiat? They were crappy but cheap and fun to drive. X1/9 was one such example. Fun fact: out of 100,000 sold in US only about 1,000 remain registered.

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