Volkswagen, continues restructuring with job cuts and faces pressure from tariffs, China competition and rising costs.
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Porsche confirmed its 2026 guidance on Wednesday despite persistent challenges as restructuring measures began to pay off, the luxury carmaker said upon reporting half-year results.
CEO Michael Leiters said the company, majority-owned by Volkswagen, had worked intensively on strategy since he took on the job at the start of the year, but warned “we still have a lot of work ahead of us.”
A new package of job cuts, bringing the total number to around 9,000or one in five jobs, is expected to burden results by a three-digit-million amount in the second half of 2026, finance chief Jochen Breckner said.
Both Porsche and parent Volkswagen are targeting a comprehensive overhaul of the business, hit by billions in US tariff charges, intensifying Chinese competition and cost pressures in Germany.
“The financial figures for the first half of the year are in line with our expectations,” Breckner added, citing rigorous cost management and positive effects of the carmaker’s shift towards high-end, margin-boosting cars.
Group operating profit grew by 34 per cent to 1.35 billion euros in the first half of the year, Porsche said.
