The sports car subsidiary Porsche is tightening its savings program. “In the next five years we are now planning a total of around ten billion euros to secure the result. Originally it was six billion euros,” said CEO Oliver Blume of the “Automobilwoche”. “After 2025 it should be three billion euros a year.”
Initially, an additional two billion euros per year were earmarked for the second half of the decade. With regard to the return target, Blume said: “15 percent is worth as much in the transformation phase as 20 percent in earlier times.” Porsche started the year well.
The tightening of the austerity program is also happening against the background of one possible IPO of the earnings pearl Porsche. As reported by manager magazin, the VW Group needs new sources of finance for its accelerated electric offensive and is therefore also considering an IPO of its highly profitable sports car subsidiary.