Overview

• Porsche will launch its new large SUV above the Cayenne only as a combustion and plug‑in hybrid model, with Panamera and Cayenne offered with those powertrains well into the 2030s.
• Development of a new dedicated electric platform is pushed into the 2030s and will be co‑developed with the Volkswagen Group.
• Porsche now expects up to €1.8 billion in 2025 write‑downs and provisions, bringing this year’s restructuring and extraordinary costs to about €3.1 billion.
• The sports‑car maker cut its 2025 operating‑margin outlook to up to 2% from a prior 5%–7% target and lowered mid‑term ambitions to around 15% under favorable conditions.
• Volkswagen anticipates about €5.1 billion in related charges, including a €3 billion impairment on its Porsche stake, and trims its 2025 operating‑margin guidance to 2%–3%, while shares of Porsche, VW and Porsche SE fell after the disclosures.