Overview

• Porsche flagged up to €1.8 billion in 2025 special charges tied to rescheduling a new BEV platform and cut its operating margin guidance to slightly positive to 2%, with revenue still seen at €37–38 billion.
• Volkswagen said Porsche’s reset will weigh on its results by about €5.1 billion, contributing to a reduced group operating margin outlook of 2–3%.
• The planned seven-seat SUV above Cayenne will launch initially only as a combustion and plug-in hybrid model, and a new BEV platform has been postponed to be reworked with other VW Group brands.
• Porsche will keep current combustion models like Panamera and Cayenne in market longer with successors, and it plans pure combustion top variants for the next 718 Boxster/Cayman generation.
• Shares of Porsche and VW fell sharply, Porsche AG moved from the DAX to the MDAX, and management signaled continued EV development (Taycan, Macan, upcoming electric Cayenne) with a BEV sales share of roughly 20–22% as cost-saving talks with the works council continue.