| Porsche Automobil Holding SE (DE000PAH0038) | |||
33,70 EURStand (close): 01.07.25 |
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| Datum / Uhrzeit | Titel | Bewertung |
| 23.04.25 03:12:40 | Porsche will release new infotainment solution exclusive to China in 2026, CEO says |  |
| SHANGHAI (Reuters) -Porsche will release a new infotainment solution exclusive to China in 2026, CEO Oliver Blume said at the Shanghai auto show on Wednesday. The luxury automaker also launched a new version of its 911 model, the Porsche 911 GT3, at the show. (Reporting by Victoria Waldersee; Writing by Brenda Goh; Editing by Jamie Freed) View Comments |
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| 14.04.25 09:32:00 | Audi and Porsche Recall Thousands of U.S. Vehicles Due to Software Issues | |
| Some 2021 model year Audi cars were affected by the problem, which could cause the virtual cockpit instrument cluster to shut down. Continue Reading View Comments |
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| 10.04.25 06:02:47 | Porsche shipped added inventory to US ahead of tariffs, analyst note says | |
| BERLIN (Reuters) - Porsche has shipped added inventory to the United States to get ahead of tariffs and kept prices constant for orders made in March, executives told analysts and investors in a call on Wednesday, according to a note by Bernstein Research. The luxury carmaker expected an operating margin below its annual guidance of 10-12%, the note said, adding that this margin also did not account for the impact of 25% tariffs on auto imports to the U.S., which were not included in the 90-day pause announced on Wednesday. Executives did not provide further detail on the longer-term strategy to deal with the tariffs, according to the note. Porsche did not immediately respond to a request for comment. The investor call was held before a closed period on company information before annual results scheduled for April 29. Among the German automakers, Porsche and Volkswagen's Audi - two brands with no U.S. production - have both said recently they would assess the option of price increases to mitigate tariff risks. In the meantime, Audi is holding cars in U.S. ports, while Mercedes-Benz stocked up its inventory in the country before tariffs came into force. (Reporting by Victoria Waldersee, Editing by Friederike Heine) View Comments |
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| 08.04.25 17:02:52 | Porsche buyers forgo luxury bling upgrades to beat Trump tariffs | |
| Porsche offers a slew of personalisation options for those that can afford it - Silas Stein/AFP via Getty Images Porsche buyers in the US have ditched luxury upgrades to their vehicles in an attempt to speed up deliveries following Donald Trump’s car tariffs. On Tuesday, the German carmaker said North American sales soared by 37pc in the first quarter of the year as buyers raced to get their hands on vehicles before President Trump’s 25pc tariff on non-US car imports kicked in. According to reports, US buyers have been opting to swerve the time-consuming process of making luxury additions to their vehicles to stop delays in their shipments from Germany and risking a tariff hit. Mr Trump unveiled sweeping tariffs on all cars imported into the US which he claimed would generate $100bn (£78bn).A brand new 911 Carrera costs £103,700 but adding upmarket features can delay delivery and push the price above £130,000 - SeongJoon Cho/Bloomberg Known for its distinctive models such as the 911 and Cayenne, Porsche offers a slew of personalisation options for those that can afford it. These include bespoke gear levers, trim and paint options, as well as post-build features such as wheels, in-car audio technology and exhaust pipes. Such features can add tens of thousands to the cost of the car. According to Porsche prices, a brand new 911 Carrera costs £103,700 but adding upmarket features can easily push that price above £130,000. Porsche’s first-quarter sales boost was flattered by depressed sales volumes last year, when its cars were held at US ports because of banned Chinese parts. The boom in North American sales came despite significant declines in Germany and China, where deliveries fell 34pc and 42pc respectively in the first quarter. The company’s total deliveries in the quarter fell 8pc. The German automotive giant now risks damage because of Mr Trump’s trade wars. While other carmakers such as Mercedes and BMW own some manufacturing facilities in the US, Porsche has none, having traded on the authenticity of its German engineering for many years. Mr Trump’s trade wars coincide with declining demand for electric vehicles (EVs) in Europe – a key focus for Porsche – and heightened competition from local rivals in China, one of its key markets. Shares have fallen by more than 50pc in the past year and it has cut hundreds of jobs as well as reshuffling its board. Earlier this year, Porsche unveiled plans to expand its range of petrol-powered cars after admitting that internal combustion engines would be around for “much longer” than previously expected. Porsche was contacted for comment. View Comments |
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| 08.04.25 08:16:00 | Porsche AG Deliveries Fall on China and Europe Headwinds |  |
| First-quarter deliveries dropped 8% as strong growth in North America failed to offset hefty declines in other key markets. Continue Reading View Comments |
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| 08.04.25 07:08:10 | Porsche Q1 deliveries fall 8% on weaker demand in China and Europe | |
| (Reuters) - German sports car maker Porsche delivered 8% fewer vehicles globally in the first quarter, it said on Tuesday, hit by declining demand in China and Europe. Global deliveries stood at 71,470 cars worldwide, Porsche said, with deliveries down 42% and 10% year-on-year in China and Europe, respectively. In Germany, Porsche's home market, deliveries slumped 34% to 7,495 vehicles. However, in North America deliveries rose 37% to 20,698 units over the same period, with growth partly attributed to import-related delays in the delivery of some model lines in the same period last year. German carmaker Mercedes-Benz said on Monday that its first-quarter unit sales of cars and vans fell 7%, hit by declining demand in China and Europe. Luxury car brands like Porsche and Ferrari are the most exposed to U.S. tariffs, said Rella Suskin, an analyst from Morningstar, ahead of the release. "However, their superior pricing power and the positive effect that price increases have on the residual values of their customers' existing cars reduce the overall impact of tariffs on their financials," the analyst said. (Reporting by Victoria Waldersee and Amir Orusov; Editing by Miranda Murray) View Comments |
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| 05.04.25 09:00:00 | German car giants shake off their Nazi past to prepare for war | |
| Posters for ‘the people’s car’. The Volkswagen Beetle has its roots in Nazi Germany - Alamy Ferdinand Porsche became widely known as the brilliant engineer behind the bestselling Volkswagen Beetle and some of Porsche’s first sports cars. But like his creations, the German industrialist had a dark side that is impossible to separate from his technical achievements. During the Second World War, Porsche’s manufacturing business, along with many others, became a key pillar of the Third Reich – helping to sustain Adolf Hitler’s war effort by churning out tens of thousands of militarised versions of what would later be renamed the Beetle. Porsche, who became the Fuhrer’s friend and favourite inventor, also played key roles in tank design, turret production and even a brief spell working on the V2 rocket.Adolf Hitler commissioned Porsche to develop the first ‘Volkswagen’ – an affordable car for the German people - United Archives/Universal Images Group Editorial It’s a history that his descendants have tried to leave behind ever since, while Porsche SE – the powerful holding company of the modern Porsche family – has generally avoided military contracting since the 1960s. Yet amid a new era of European instability, the Porsche clan has revealed it is mulling a return to the defence business as part of a new “core investment” plan. “The focus is really on defence, because this is what it is all about,” said Lutz Meschke, head of investments at Porsche SE. He did not say how large the investment would be or where it would be targeted, suggesting that the company may also look at infrastructure. And if the company’s existing core holdings are anything to go by, the investment shift could herald a significant move. Porsche SE’s main investments today include a 32pc stake in Volkswagen Group (with more than 50pc voting rights) as well as a 12.5pc stake in luxury car maker Porsche AG (which is 75pc owned by VW). In addition to the flagship brands, the company’s automotive empire also spans Audi, Bentley, Bugatti, Lamborghini, Škoda and SEAT. But these have been struggling of late. Meanwhile, a major German rearmament push has taken place, following Russia’s invasion of Ukraine and Donald Trump’s election as US president. Frederick Merz, Germany’s incoming chancellor, secured support in March for an easing of his country’s long-standing “debt brake”, turning the taps on for €500bn (£425bn) of infrastructure spending and for any defence spending above 1pc of GDP to be exempt from borrowing restrictions.Friedrich Merz has relaxed Germany’s strict debt rule to facilitate the country’s rearmament drive - Odd Andersen/AFP via Getty Images It’s no coincidence that Porsche’s interest in new investments extends to both of these areas. But the company’s new direction is also just a sign of the times: While carmakers such as VW – long the engine of the national economy – have been struggling, rearmament has seen huge sums of money flow into the likes of tank maker Rheinmetall. Story Continues “The mood in Germany is one where the excess capacity in the car sector, which has long been an issue, is now morphing into a debate about how car makers can switch into defence production,” says Sander Tordoir, the chief economist at the Centre for European Reform. “What would Porsche do? It’s not quite clear. But it’s understandable that they’re moving into that space. “Their empire of investments today has some weak links, including Volkswagen. And of course, it’s not good for Porsche to be hit with US tariffs either. “So this makes sense for them, I think, because defence is where the dynamism in German industry will now be.” At the end of last year, executives at VW announced plans to slash 35,000 jobs as they battled sluggish consumer demand and brutal competition from China – sending the company’s shares down by a third compared to a year ago. The picture is much rosier at Rheinmetall, however, with shares up 160pc in just the past six months alone. The company was valued at more than €60bn on Friday, having overtaken VW (currently valued at €49bn), just last month. For German defence companies, which have been the poorer industrial relations of car makers since the end of the Cold War, it is a major turnaround. And the reversal has prompted discussions about cannibalising German car making capacity to produce arms and ammunition instead – given the voracious demand for artillery shells in Ukraine and across the Continent where stockpiles have become depleted. Rheinmetall, which is Europe’s biggest producer of ammunition, has already revealed plans to turn automotive component factories in Berlin and Neuss into “hybrid” hubs that will become part of its weapons and munitions business. Last week, chief executive Armin Papperger also toured Volkswagen’s under-utilised plant in Osnabrueck, north-west Germany, to discuss its potential for defence production. VW has also expressed openness to considering defence production but suggested it would wait to be approached by military partners. Moving the Porsche family’s existing businesses into defence at this late stage is likely to be risky, however. More likely, Tordoir believes, is that the clan will seek to expand its holdings in defence start-ups and contractors through targeted investments. “There’s a certain degree of myopia and desperation”, he says. “There are plenty of other German defence companies, including quite a few that are doing well in the space and have an innovation lead on carmakers. “So investing in German defence startups should be easier, in many ways, than re-rigging existing industrial sites.” But even then, there is no sure-fire guarantee of success – or that the boom in defence, traditionally a “feast and famine” industry, will last. Still, “to the Porsche family, with its empire of industrial investments, a short-term feast doesn’t look too bad”, notes Tordoir. Meanwhile, like BMW, Daimler and other German industrial titans, the family is no stranger to the military business – an entanglement that has become a source of shame today. Under Hitler’s regime, Ferdinand Porsche was elevated from a respected designer to top German industrialist, with the Nazi leader bringing him in to develop the first Volkswagen (“people’s car”) for the populace – originally under a wholly state-owned enterprise. The car was not put into mass production before the Second World War erupted. But it had always been designed with possible military applications in mind, leading to a more rugged, wartime version known as the Kübelsitzwagen to be produced in the tens of thousands and even a boat-like, amphibious version known as the Schwimmwagen.Volkswagen’s production of tens of thousands of Kübelsitzwagen helped support the Nazi war effort - Alamy Porsche was also brought in by Hitler to chair Germany’s Panzer tank commission, suggest designs for the Tiger 1 tank – although his version was never adopted – support development of the Panzer 38 tank and eventually to produce the heavy tank destroyer known as the Ferdinand (later the Elefant). During the war, Porsche’s business was one of those that used forced labourers from concentration camps, with some of these victims also allegedly being made to work as servants in his family’s home. The tycoon has also been accused of taking advantage of the desperate situation of his Jewish former business partner Adolf Rosenberger, to transfer his shares at a cut-price during the 1930s when he fled Germany. After the war Porsche was imprisoned by the French as a war criminal but later released without being convicted. By this point, his son Ferry Porsche – himself a controversial figure – had taken over the running of the business, taking the company into sports car production. Both father and son had been members of the Nazi Party. But Ferry Porsche – still feted by Porsche as the man who saved the business – has also been accused of becoming an officer of Hitler’s feared SS paramilitary organisation, and of hiring and promoting former SS officers within Porsche after the war.Ferry Porsche was credited with saving the car business in the aftermath of the Second World War - Motoring Dutch journalist David de Jong, author of the book Nazi Billionaires: The Dark History of Germany’s Wealthiest Dynasties, has claimed the Porsche family “laid the foundations for their wealth during the Third Reich” but have since engaged in “brazen whitewashing”. For example, the website of the Ferry Porsche Foundation – chaired by Porsche patriarch Wolfgang Porsche – describes its namesake as “a passionate entrepreneur who took his social responsibility seriously”, according to an English translation. An official company history, produced to celebrate the brand’s 75th anniversary, also started in 1948 – the year Porsche’s 356 car entered production. The Porsche business has since agreed to undertake academic studies to examine the company’s Nazi legacy and the history of Rosenberger, who claimed he had tried to return after the war but was refused. He died in 1967. On Friday, Porsche said the company was “open to the past of its predecessor companies and sees engaging with its history as a permanent task”. “Porsche AG is an open-minded company in which there is no room for discrimination, anti-Semitism and exclusion,” a spokesman said. They said there was “no evidence” Ferry Porsche had willingly collaborated with the Nazi regime, or that he had associated with former SS officers after the war and made anti-Semitic remarks. His party memberships were “not optional”. “We believe it is important to take into account not only these memberships, but above all Ferry Porsche’s concrete behaviour,” she said, pointing to his decision to work “closely and trustingly” with American businessman Max Hoffman and former Porsche boss Peter Schutz, both of whom were Jewish by ancestry and fled Europe to escape the Nazis. “Both cases show that origins and religion played no role for Ferry Porsche,” the spokesman added. View Comments |
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| 28.03.25 16:29:14 | Carmakers weigh risk of price hikes as Trump tariffs loom, sources say | |
| By Christina Amann and Victoria Waldersee BERLIN (Reuters) - European carmakers are trying to work out how much their prices might have to rise in response to looming U.S. import tariffs, industry sources said, fearing any first-movers could risk a backlash from U.S. President Donald Trump. The United States late on Wednesday announced 25% duties on imports of finished cars and certain components from April 3, dashing hopes for lower rates or exemptions after several short-term policy changes suggested there might be wiggle room. Export-oriented car companies in Europe, most notably Germany's major automakers, are heavily exposed, with few options on how to respond in the near-term other than smaller discounts and price increases. "Nobody can afford not to pass on the tariffs," said a source at a European automaker, adding there was a waiting game around who would be the first to raise prices. "Nobody will take a stand in the coming months for fear of Trump's revenge." These deliberations add to the challenges facing carmakers already struggling with lacklustre demand, high labour costs and stiff competition from Chinese rivals. Ferrari was the first brand to declare that it would raise prices by up to 10% on cars imported into the U.S. after April 2. French supplier Valeo also said it would have no choice but to raise prices if tariffs on autos parts - looming from May 3 - came into effect. But most auto industry executives are reluctant to reveal their plans, fearing retribution from the U.S. president who has made clear that his aim is for carmakers not to raise prices, but to move production to the United States, three auto industry sources, who declined to be identified because of the sensitivity of the matter, said. Volkswagen, Porsche AG, BMW, and Mercedes-Benz all declined to comment when asked about price increases as a result of tariffs. Among the German automakers, Porsche and Volkswagen's Audi - two brands with no U.S. production - have both said recently they would assess the option of price increases to mitigate tariff risks. BMW has previously said it would keep the price of its 3 Series, one of its most popular U.S. models which is being built in Mexico and Germany, unchanged until May. UBS analysts see a risk of at least a 10-20% hit to earnings per share at Germany's carmakers due to the U.S. tariffs on EU imports, an analysis which already factors in some mitigating price action where possible. Carmakers like Porsche and Ferrari will have an easier time passing through some of the tariff costs for more unique models like the Porsche 911, analyst Daniel Schwarz of Stifel Research said. Story Continues For Porsche's SUVs this would be more difficult because rival models, including the Mercedes GLE and BMW X5 are produced in the United States, he added. Another auto industry source said: "Everyone has plans up their sleeve, you just have to decide when you play which cards. It's a poker game." (Reporting by Christina Amann and Victoria Waldersee; Additional reporting by Ilona Wissenbach; Writing by Christoph Steitz and Victoria Waldersee. Editing by Jane Merriman) |
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| 26.03.25 07:04:23 | Volkswagen shareholder Porsche SE eyes defence, infrastructure for new investments | |
| By Victoria Waldersee BERLIN (Reuters) -Porsche SE, Volkswagen's largest shareholder, is eyeing defence and infrastructure as possible new long-term investment areas, it said on Wednesday, adding there were no plans to sell shares in Volkswagen or Porsche AG. Germany's parliament this month approved plans to create a 500-billion-euro ($540 billion) infrastructure fund and allow higher spending on defence, sending shares in construction and defence companies soaring as investors hoped the spending splurge could revive economic growth. New investments need to generate financial returns to contribute to dividends, and give insights into new technologies that could boost the competitiveness of Volkswagen and Porsche AG, said Lutz Meschke, Porsche SE's board member for investment management and a former finance chief at Porsche AG. Porsche SE, controlled by the Porsche and Piech families, is Volkswagen Group's top investor with 31.9% of shares and 53.3% of voting rights. It also owns 12.5% of luxury carmaker Porsche AG, with much of the rest held by the Volkswagen Group. Board chairman Hans Dieter Poetsch denied rumours that Porsche SE was planning to sell shares in either of its core holdings but said that it could "certainly imagine" adding a new core investment. The board proposed a dividend of 1.91 euros per preference share, down from 2.56 euros last year, attributed to the lower dividend inflow from Volkswagen, which reported a 15% drop in operating profits last year. The holding company said that the programmes underway at Volkswagen and Porsche to cut costs had significant potential to boost profitability but that the companies needed to focus on "rigorous implementation." ($1 = 0.9273 euros) (Reporting by Victoria Waldersee. Editing by Tomasz Janowski and Mark Potter) View Comments |
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| 16.03.25 09:06:29 | Porsche SE says it is not considering sale of Volkswagen shares | |
| FRANKFURT (Reuters) - Porsche SE, Volkswagen's biggest shareholder, is not considering selling voting shares in Europe's largest carmaker, the holding firm said on Sunday following a newspaper report that it was weighing such a move. German tabloid Bild, citing people familiar with the matter, said the Porsche and Piech families that jointly control Porsche SE were considering divesting shares in Volkswagen to free up capital for other investments. Bild's report said possible scenarios include reducing the stake in Volkswagen's ordinary shares to 45%-50%, from 53.3% at present. According to Reuters calculations, that would raise 1.07 billion to 2.69 billion euros ($1.16 billion-$2.93 billion) at current prices. "At Porsche SE there are currently no concrete considerations, nor were there in the course of 2024, to divest VW shares," the holding firm said in a statement, adding that any plans to sell VW shares would have to be reported in its accounts. "There have also been no discussions with investors regarding the sale of VW shares. Porsche SE is committed to its role as a long-term anchor shareholder of Volkswagen AG and is convinced of the Volkswagen Group's potential for increasing value." Volkswagen declined to comment. Porsche SE owns 31.9% of Volkswagen's equity and 53.3% of its voting rights, and holds a blocking minority in the untraded voting shares in Porsche AG, the luxury sportscar maker that was listed in 2022. Volkswagen and Porsche form Porsche SE's so-called core investments, and the holding firm last year said that in the long-term it would not rule out "a possible reallocation" between the two as well as its smaller portfolio investments. Porsche SE earlier this month disclosed substantial impairments on its two biggest holdings, 19.9 billion euros on Volkswagen and 3.4 billion euros on Porsche AG. ($1 = 0.9192 euros) (Reporting by Christoph Steitz; Editing by Helen Popper) View Comments |
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