Porsche has ruled out producing vehicles in the US, despite its parent company Volkswagen securing a deal with the Trump administration for Audi’s new $4bn factory in Georgia. Finance boss Jochen Breckner cited low production volumes and added complexity as reasons against shifting manufacturing, even as US growth becomes vital to offset collapsing sales in China. Porsche reported an operating profit of €387mn in Q3, rebounding from a loss of €967mn the previous year, though quarterly revenue fell 7.5% to €8bn.
The company is undergoing restructuring with 9,000 job cuts and asset sales. Meanwhile, VW CEO Oliver Blume continues negotiations to lower US car tariffs below 15%. Audi’s CEO Gernot Döllner faced union criticism after appearing at a Georgia rally with Donald Trump to announce the $4bn investment.
Porsche expects no tariff relief and is betting on a new combustion engine Macan and higher prices to revive profits, though recovery will take time.
Source: Financial Times Companies · Summarized by HeadlinesBriefing