AssetID: 55118231
Headline: UNCAPTIONED: Porsche Shares Slide As Carmaker Delays Electric Vehicle Rollout
Caption: Porsche Shares Slide As Carmaker Delays Electric Vehicle Rollout. Porsche shares fell more than seven percent on Monday after the company announced delays to its electric vehicle rollout, warning the move will hit 2025 earnings. Parent company Volkswagen also saw its stock tumble by over seven percent. The German brand, caught between electrification and its heritage petrol models, says weaker demand has forced a slowdown in its EV push. Profit margin forecasts have been slashed from as high as seven percent to just two percent or less. Porsche cited US tariffs, a downturn in China’s luxury market, and slower progress on electric mobility as key challenges. It now plans to extend production of combustion-engine cars while delaying new EV launches even as Europe prepares to ban petrol and diesel sales by 2035. In a major shift, Porsche says its next SUV line will debut only with combustion and hybrid engines while staples like the Panamera and Cayenne will keep non-electric options into the 2030s. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Motoring,Porsche,shares,slide,go down,carmaker,delays,electric vehicle,EV,rollout,move,2025 earnings,hit,parent company,Volkswagen,stock,tumble,seven percent,German,electrification,heritage petrol,models,forced,slowdown,EV push,profit margin,forecasts,slashed,vehicles
PersonInImage: