Wedoany.com Report-Feb 8, The electric revolution fizzled and many automakers have now abandoned or delayed plans to go electric-only. This has left a number of firms scrambling to churn out new models with internal combustion engines as well as hybrid powertrains.
Porsche is among them as they recently confirmed, “We will develop new combustion-engined derivatives [of our EVs] in order to give the right answer to customer demand.” Given this, it’s not surprising to learn the company has announced an “expansion of the product portfolio to include additional vehicle models with combustion engines or plug-in hybrids.”
Porsche didn’t go into specifics, but said the move is designed to strengthen their profitability in the short and medium term. This effort also includes a renewed focus on Porsche Sonderwunsch (special request) and Porsche Exclusive Manufaktur. These are highly profitable programs steeped in personalization, so the company wants to maximize their profitability.
However, these initiatives come at a cost and this is on top of already expensive vehicle and battery development. Porsche warned these efforts will “lead to significant additional expenditures” and their impact for the 2025 financial year could total €800 ($826) million.
If that wasn’t bad enough, Porsche is expecting a “market-induced” drop in sales for 2025. The automaker also forecasted sales revenues of €39-40 ($40.2-41.3) billion for the year.
Porsche deliveries fell by more than 9,500 units last year and the company has previously pointed to China’s “continuing challenging economic situation.” The company blamed this for sagging Panamera sales, which were off by 13%.
Investors weren’t happy and Porsche AG stock closed down 6.45 % to €55.94 ($57.78) per share in Frankfurt.
