Porsche’s third-quarter financial report caused an uproar in the market. Among them, the most eye-catching one is the loss of 966 million euros. Affected by the third quarter, Porsche’s sales profit in the first three quarters was only 40 million euros, a 99% drop compared to 4.035 billion euros in the same period last year. The magnitude is staggering. At the same time, the single-quarter gross profit margin of 13.2% also hit a new low this year. In a conference call after the financial report, Porsche announced that the fuel-powered Macan, 718 Boxster, and Cayman will be discontinued. In addition to product strategy adjustments, Porsche is also taking multiple measures to get out of its current operating difficulties. Previously, Porsche announced a layoff plan to lay off 1,900 employees by 2029 and 2,000 temporary positions within this year.

The collapse of the Chinese market has become a major reason for Porsche’s success today. As Porsche’s largest single market, one out of every three cars sold in the world is in China, and nearly a quarter of the car’s price is profit. After Porsche’s sales in China reached 95,700 vehicles in 2021, sales have continued to decline from 2022 to 2024, reaching 93,300, 79,300 and 56,900 vehicles respectively. Sales in the first three quarters of this year were only 32,200 vehicles, down 26% compared with the same period last year. China’s market share has shrunk to only 15% of its global sales. The only good news for terminal performance came from the North American market, where deliveries increased by 5%. Whether it is the Chinese market or the global market, Porsche is experiencing the most severe and darkest moment.