The holding company Porsche SE suffered a drop in profits of a good third between January and September with its core holdings in the weak German auto industry. However, she confirmed the annual targets for profit and net debt after meeting the earnings expectations with the largest participation Volkswagen had already evaporated twice this year.
So far this year, the share price has fallen by almost 23 percent, which puts it at the bottom of the leading German index.
In addition to its stake in Volkswagen, Porsche SE also holds the majority of voting rights in the sports car manufacturer Porsche AG. VW and Porsche have recently had to struggle with industry weakness in Europe and China, which has also caused their shares to fall by more than 20 percent so far in 2024.
The European auto sector as a whole has lost more on the stock market than any other industry since the beginning of the year. The planned punitive tariffs of the US President-elect Donald Trump against vehicles manufactured abroad had recently increased the price pressure.