By Rachel More
BERLIN (Reuters) – Porsche reported on Friday a larger-than-expected operating loss in the third quarter, in a result pressured by the postponement of the expansion of electric vehicles announced last month.
The group’s operating loss totaled 967 million euros ($1.1 billion) from July to September, below the profit of 974 million euros a year earlier. Analysts consulted by Visible Alpha expected a loss of 611 million euros.
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“We expect 2025 to be the threshold for a notable improvement for Porsche from 2026 onwards,” said the manufacturer’s CFO, Jochen Breckner, warning that “large-scale solutions” were needed in the current restructuring negotiations with labor representatives.
Porsche chief executive Oliver Blume, who is also Volkswagen chief executive, will hand over control of Porsche to former McLaren boss Michael Leiters in early 2026, the group said last week.
Leiters is set to inherit one of the biggest crisis cases in Europe’s automotive sector, hit by falling demand in China and pressure on margins due to tariffs imposed by the United States.
