The sports car manufacturer Porsche wants to find its way out of the crisis with an expensive realignment of its product strategy. Because of the much too weak sales fully electric sports cars, the Stuttgart -based company is organizing its entire planning of future vehicles and at the same time lowers the return targets. As Porsche announced on Friday after closing the IPO, the model range is again to be added more with cars with an combustion engine; However, certain electrical models are postponed. The capped profit forecast also affects the planning of the parent company Volkswagen and the Familyholding Porsche SE. “We are currently experiencing profound upheavals in the automotive industry. We are therefore hosting Porsche,” said the CEO of Porsche, Oliver Blume, on Friday evening in a short -term telephone conference. In addition to the demand for demand in Europe, but above all in China, the business burdened and currency fluctuations. Just about three years ago, Porsche had gone to the stock exchange with great expectations, many of the hopes at that time broke up. Porsche has just relegated from the DAX stock index, a heavy setback for flower that leads the sports car manufacturer in parallel to the parent company VW. Business of up to 1.8 billion EURODIE share from Porsche lost around 2.5 percent in Frankfurt’s late retail. The course drops by 4.1 percent on the tradegate trading platform. Shares of the parent company VW lost in a first reaction of 2.7 percent in the first reaction. The planning change goes across the portfolio. A previously fully planned new SUV series above the Cayenne model is initially only offered as a combustion engine and plug-in hybrid when it comes to launch. In addition, Porsche wants to offer current models such as the Panamera and the Cayenne with an internal combustion engine and plug-in hybrid “until well into the 2030s”. The new planning for Porsche will result in a load of up to 1.8 billion euros in the current year. Instead of a return on sales of five to seven percent, Porsche is now aiming only two percent. The medium -term goal of a yield of 20 percent seems to be completely passé, Porsche is now 15 percent in prospect, and only “with good business development”. “Dramatic falling demand” in Chinad’s parent company Volkswagen subsequently announced as a result of a duty to correct the participation in the listed sports car manufacturer by three billion euros in value. Including the costs for adapting a joint vehicle project, the burden adds to just over five billion euros. VW therefore also lowers the forecast; A return is expected of two to three percent instead of four to five as originally planned. VW had presented a number of new electric models at the IAA car show, but at the same time demanded that the CO2 regulation to be mitigated in order to give the company more air. Porsche is in a special quota because the expensive electric sports cars hardly sell, especially in China. In the call, Blume spoke of a “dramatically falling demand” for luxury goods in China, which burdened its own business. Secondary savings package comes to the decision to realign Porsche in the days when the board of the sports car manufacturer and the works council started the talks about a second savings package. CFO Jochen Breckner had already announced that the first program that Porsche had launched in February would follow a second. “The current situation is understood by everyone involved.” Porsche wants to find a solution in the coming weeks. The control committee met for a session on Friday. Porsche then published the new planning and the reduced forecast. In the first round, the supervisory board had decided to align the cost structures for an annual production of only 250,000 cars and to reduce around 15 percent of jobs in Zuffenhausen and Weissach by 2029. There are a total of around 3900 jobs. The process started the run of 1500 temporary contracts last year. A location security excludes operational dismissals by 2030. The positions are to be reduced over demographic change, fluctuation and a partial retirement program. In addition, the company is spreading special payments. More on the topic of new measures, which the Porsche board now wants to negotiate, could tip further special services to which the company has committed to company agreements. The half -year figures have shown how hard Porsche has to save. The group result from January to June was 718 million euros. That is a minus of a good 71 percent. In the same period last year, the surplus was just under 2.2 billion euros. The situation continued to do so: Porsche generated in the first quarter of around 518 million euros-in the period from April to June, only 200 million euros were added. In a letter to the workforce, Porsche boss Blume had prepared the workforce for the second savings package in mid-July and described the situation in open words. “Our business model, which has worn us for many decades, no longer works in this form. Our framework conditions have deteriorated massively in a short time. It all hits us tough. Harder than many other automobile manufacturers.”
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