Porsche Embraces Electric Future Despite Profitability Concerns

The luxury carmaker announces a strategic shift towards electric vehicles, expecting a dip in profits as it invests heavily in new models and technology.

Porsche warns of decreased profitability in 2024 due to investments in electrification, with operating return on sales projected between 15% and 17%.
The company reports strong demand for its electric vehicles, including over 10,000 orders for the new electric Macan ahead of deliveries.
Porsche plans to launch four new or significantly revised vehicles in 2024, aiming for electric vehicles to constitute 80% of sales by 2030.
Despite the focus on electric vehicles, Porsche increases its dividend following a profitable 2023, with sales revenue rising 7.7% to €40.53 billion.
The company's transition includes the introduction of an electric Macan, an updated Taycan, and plans for an electric Cayenne and a luxury electric SUV.