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Porsche AG on Friday dialled[sic] back plans for its electric vehicle rollout due to weaker demand, pressure in key market China and higher U.S. tariffs, causing the luxury sportscar maker and its parent Volkswagen to slash their 2025 profit outlooks:
The move highlights the challenges for one of the most well-known car brands, which has been squeezed by its two most important markets - China and the United States - over price declines and trade barriers.
Volkswagen, Europe's top carmaker, said it would take a 5.1 billion euro ($6 billion) hit from the far-reaching product overhaul, which delays some EV models in favour of hybrids and combustion engine cars, at its 75.4%-owned subsidiary.
The changes are a major shift for the Stuttgart-based maker of the iconic 911 model, and are expected to hit Porsche's operating profit by up to 1.8 billion euros this year, it said.
[...] Porsche said it would delay the launch of certain all-electric vehicles, adding that the new SUV above the Cayenne model would initially not be offered as an all-electric vehicle, but with combustion-engine and hybrid models.
Also at ZeroHedge.
Previously: Porsche's New Cayenne Will Charge Itself Like No Other EV
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(Score: 2) by ledow on Friday September 26, @07:23AM (1 child)
The name Porsche alone is no longer enough to quadruple your prices.
Ford sell Mustang Mach-E for not much more than their cheapest EV.
And with electric cars, Porsche's "performance" is basically removed from consideration. Many EV are capable of being "faster" (accelerating) than any Porsche ever made, they're just software-limited at best.
But it's not just Porsche... it's all the traditional manufacturers from Ford to BMW to luxury sportscars. They all seem to think, Kodak-like, that this fancy new technology will just go away and people will continue to buy millions of dinosaur-burning vehicles in perpetuity.
Meanwhile, cars that 10 years ago I had never heard of have stolen that market right from under them. Not because they older, bigger companies couldn't compete... but because they just don't bother. They're stuck in the days of thinking governments can't afford to lose the manufacturing so they'll bail them out... but there's no HINT of that on the horizon.
We're literally seeing 100+ year old companies rest on their laurels and destroy their businesses because of some Luddite thinking that permeates their whole product ranges, while upstarts are coming in and selling 8 cars to every one of Porsche (in terms of volume and price!). It's the dumbest thing ever.
I get holding back, I get having to retool, I get trying to preserve and maximise the value of your existing patents, etc. but we're now in the "when are you going to BOTHER to try properly?" stage for all the manufacturers that people had ever heard of 20 years ago.
(Score: 2) by mcgrew on Monday September 29, @04:02PM
Ford sell Mustang Mach-E for not much more than their cheapest EV.
Nobody (outside China, perhaps) makes inexpensive EVs! The only reason they put electric motors in automobiles at all is because of fleet emissions maximums mandated by governments. The only EVs are luxury cars and muscle cars.
The reason is the dealer to junkyard gravy train on maintenance. The EV's drive train needs no maintenance, the piston drive train is an inefficient, unreliable Rube Goldberg device with thousands of moving parts and constant needed maintenance. It is so inefficient that Google says an EV will go twenty miles on the electricity it takes to refine a gallon of gasoline!
And with electric cars, Porsche's "performance" is basically removed from consideration. Many EV are capable of being "faster" (accelerating) than any Porsche ever made, they're just software-limited at best.
True. My EV is a Hyundai sedan, at $50k the most expensive car I ever bought, but it's a run of the mill luxury sedan (EVs are far roomier than even a larger gasoline car) but it does the quarter mile in less than fourteen seconds, five seconds faster than a police car.
We're literally seeing 100+ year old companies rest on their laurels and destroy their businesses because of some Luddite thinking that permeates their whole product ranges, while upstarts are coming in and selling 8 cars to every one of Porsche...
This is nothing new, it's a repeat of the 1920s when cars took over from horses, for pretty much the same reason. The only buggy maker that successfully transitioned to automobiles and was still around in my lifetime was Studebaker. My car is to every other car I've ever driven what a Model-T was to a horse.
What I can't understand is why the Fiskers and other new EV makers aren't advertising their many advantages? I bought my EV so I wouldn't have to babysit it in the freezing, windy snow and was astounded at just how much better all around it is. I never realized what a pain in the ass internal combustion vehicles were, and I've been driving them since 1968.
What did you expect when you voted for a convicted felon, peace and rainbows?