Porsche 3rd Quarter 2025 Financial Results

[Jasper4S]

Porsche need to announce officially that their cars don’t feel as luxurious as 30k Chinese cars, for you to believe it?

Weird, but ok. Maybe try some YouTube videos if you are not willing to go to car shows

Porsche did in quite an official manner announce that they are selling horribly in most foreign markets. Just because they still make EV cars, it doesn’t mean they actually sell them.

I’ll bite.

That’s not how it works. Porsche doesn’t need to announce that their cars feel more or less luxurious, that’s subjective. What is official are their financial results, product strategy updates, and market data.

Those show exactly this: Porsche’s EVs are selling slower, yes, but they are still part of an adjusted long-term plan, not a failure or an exit. The Taycan and Macan EV are both being updated, the Cayenne EV and the all-electric 718 are coming, and the new Macan GTS was just launched as a reminder that Porsche still knows how to build performance cars people actually want.

Also, comparing a Chinese EV with a 911 or a Taycan is like comparing a Netflix subscription to a cinema experience. Both show a movie, but the audience and the reason people buy in are completely different.

So sure, watch YouTube videos, but maybe also read the investor reports. They are a bit more accurate than TikTok car reviews.

Sponsored

 

[chun]

I’ll bite.

That’s not how it works. Porsche doesn’t need to announce that their cars feel more or less luxurious, that’s subjective. What is official are their financial results, product strategy updates, and market data.

Those show exactly this: Porsche’s EVs are selling slower, yes, but they are still part of an adjusted long-term plan, not a failure or an exit. The Taycan and Macan EV are both being updated, the Cayenne EV and the all-electric 718 are coming, and the new Macan GTS was just launched as a reminder that Porsche still knows how to build performance cars people actually want.

Also, comparing a Chinese EV with a 911 or a Taycan is like comparing a Netflix subscription to a cinema experience. Both show a movie, but the audience and the reason people buy in are completely different.

So sure, watch YouTube videos, but maybe also read the investor reports. They are a bit more accurate than TikTok car reviews.

What you seem to omit is that it’s not only their electric cars that are not selling.

Especially in China, a very important market for porsche, which they keep brining up constantly.

It’s not me comparing the 911 to an EV, it’s the wider market, it’s the Chinese. And they are choosing the EVs - and Porsche’s official numbers show that;

It’s not misinformation, sales are down, profit is down, new models are delayed; hell, the 718 EV you kept brining up was supposed to release in 2024, and it is delayed to 2027 earliest, likely 2028. The cayenne EV is at the edge of release since 6 months, delayed due to software issues.

 

[Jasper4S]

What you seem to omit is that it’s not only their electric cars that are not selling.

Especially in China, a very important market for porsche, which they keep brining up constantly.

It’s not me comparing the 911 to an EV, it’s the wider market, it’s the Chinese. And they are choosing the EVs - and Porsche’s official numbers show that;

It’s not misinformation, sales are down, profit is down, new models are delayed; hell, the 718 EV you kept brining up was supposed to release in 2024, and it is delayed to 2027 earliest, likely 2028. The cayenne EV is at the edge of release since 6 months, delayed due to software issues.

Let’s keep it real. Porsche’s sales are down only about 6% this year, hardly a collapse. Profits are squeezed, thanks to delayed launches, software headaches, Trump-era tariffs, and China, which remains a very tough market.

Meanwhile, Renault is practically on the brink, so let’s not pretend every European carmaker is cruising. Porsche is just adjusting, launching the new Macan GTS, keeping the 911 strong, and rolling out the Cayenne and 718 EVs. Slow? Sure. Dead? Absolutely not.

So maybe stop spinning every Porsche number into a doom story just because it doesn’t fit your China-love narrative. Slowdowns aren’t collapses.

 

[chun]

Let’s keep it real. Porsche’s sales are down only about 6% this year, hardly a collapse.

6% down this quarter, when compared to last quarter, which was already down way more.

Deliveries of the iconic 911 totalled 37,806 up to the end of September, representing a slight decrease of 5 per cent. The 718 Boxster and 718 Cayman models recorded 15,380 deliveries, a 15 per cent decrease compared to the previous year.

This was also in a year where they pushed the 718 as the last ICE Cayman, and kept producing and allocating slots until the last seconds of the line shutdown.

I'm sorry, 99% losses of profit doesn't sound great for most investors, not just me.
Hardly a China love narrative. Is the Chinese market difficult because Chinese hate Porsche, or because they don't have competitive products?

Also, compared to other european car makers, only Porsche announced going back to ICE.

Audi is going ahead with mass production of their concept 2 door sports EV, on a new platform, with new tech powering their all electric future.

Mercedes just unveiled their zonal architecture that will power their EVs, and their premium EVs, in the all electric future they bet on.

BMW just announced that the demand for their upcoming EVs is much higher than they expected, also zonal architecture, also new EV platform, also top of the line tech, also at half the price of Porsche.

Hell, Ferrari is bringing out an EV next year.

Seems to be a difficult market only for Porsche, no? Or at least, the others seem to have figured that competitive products makes the EV market not so difficult.

 

[andb]

1st, Porsche must stop charging money for silly options that you find on half priced cars, this model doesn't work anymore and its damaging their reputation. The regular cars are almost boring and way overpriced.

A nice spec Macan 4S is at 135k when a similar sized, fully specced iX3 50 which is technologically more advanced ends up at 85k. Only benefit for Porsche in my view is the driving dynamics never worth a 50k price difference.

2nd, update the car's tech every year not every 4 years at facelift time, by that time competition is two steps in front.

 

[Fish Fingers]

1st, Porsche must stop charging money for silly options that you find on half priced cars, this model doesn't work anymore and its damaging their reputation. The regular cars are almost boring and way overpriced.

A nice spec Macan 4S is at 135k when a similar sized, fully specced iX3 50 which is technologically more advanced ends up at 85k. Only benefit for Porsche in my view is the driving dynamics never worth a 50k price difference.

2nd, update the car's tech every year not every 4 years at facelift time, by that time competition is two steps in front.

..... and providing a bit of customer service wouldn't go amiss (from my personal experience) either.

Never explaining or apologising when things go t1ts up (as they do) is not a good sign.
It's a sign of arrogance and outdated/misplaced superiority in my book.

 

[Jasper4S]

6% down this quarter, when compared to last quarter, which was already down way more.

This was also in a year where they pushed the 718 as the last ICE Cayman, and kept producing and allocating slots until the last seconds of the line shutdown.

I'm sorry, 99% losses of profit doesn't sound great for most investors, not just me.
Hardly a China love narrative. Is the Chinese market difficult because Chinese hate Porsche, or because they don't have competitive products?

Also, compared to other european car makers, only Porsche announced going back to ICE.

Audi is going ahead with mass production of their concept 2 door sports EV, on a new platform, with new tech powering their all electric future.

Mercedes just unveiled their zonal architecture that will power their EVs, and their premium EVs, in the all electric future they bet on.

BMW just announced that the demand for their upcoming EVs is much higher than they expected, also zonal architecture, also new EV platform, also top of the line tech, also at half the price of Porsche.

Hell, Ferrari is bringing out an EV next year.

Seems to be a difficult market only for Porsche, no? Or at least, the others seem to have figured that competitive products makes the EV market not so difficult.

Sure, profit was down, around €40 million in Q3, but that is still profit in a transition year with model changeovers and delayed launches. You do not call that collapse, you call that adjustment.

A 6 percent drop in deliveries is still among the best in the segment. Others are down double digits. Porsche kept the 718 line running until the very last day before the EV shift. That is planning, not failure.

China is not rejecting Porsche. It is a distorted, subsidy-driven market where even local brands are struggling with oversupply. Pretending this is a Porsche-only issue is just spin.

Porsche is not quitting EVs, not collapsing, and not falling behind. They are pacing themselves for profit, not for hype.

Some sources backing up China is in trouble too to show this isn’t a Porsche issue only
- https://www.reuters.com/business/au...survive-by-2030-alixpartners-says-2025-07-03/
- https://www.theguardian.com/busines...kers-stop-price-cutting-production-involution
- https://www.lemonde.fr/en/economy/a...the-challenge-of-overcapacity_6744563_19.html

I know you have a lot of knowledge, @chun, and I really appreciate your input here on the forum. But I think some of the nuance is missing in this case.

 

[Schroederhc]

VW Group has serious problems with many of their brands. Problems they haven't had in recent history.

 

[Richard 4S]

When Xiaomi puts out a car that is faster than the Taycan Turbo GT for $73k with better tech. it's really hard to convince people to pay an extra 150k just for the badge.

https://www.motorauthority.com/news/1145870_2025-xiaomi-su7-ultra-price

There is more to a fast car than its 0 to 60 time.

 

[ze_shark]

1st, Porsche must stop charging money for silly options that you find on half priced cars, this model doesn't work anymore and its damaging their reputation. The regular cars are almost boring and way overpriced.

A nice spec Macan 4S is at 135k when a similar sized, fully specced iX3 50 which is technologically more advanced ends up at 85k. Only benefit for Porsche in my view is the driving dynamics never worth a 50k price difference.

This part of the business model is working fine, ASPs have not changed at all. Which means that in aggregate, they have not discounted. Nothing in the available data supports the theory that they should drop prices.

There is also no reference case for a foreign premium OEM doing well in China. BMW, Audi and Mercedes China sales started contracting at about the same time.

Shareholder and customer interests will never align, and we will not see Porsche do less of what made them so profitable. We are going to see more of it, by virtue of amplified necessity.

The projection of value consumer aspirations is going absolutely nowhere.

 

[chun]

There is more to a fast car than its 0 to 60 time.

Like better time around a racing track? Xiaomi has it.
Better tech? Xiaomi has it
Better interior materials? Xiaomi has it.

So yes, you are right. I wonder when Porsche will match them

 

[Dresz981]

Porsche reports Q3 2025 U.S. retail sales
10/09/2025

Robust demand sees YTD deliveries rise 5.6 percent vs 2024 with 57,099 new cars sold across all model lines.

Atlanta, Georgia. Porsche Cars North America, Inc. (PCNA) announced today that third-quarter retail deliveries totaled 18,403 cars contributing to overall sales of 57,099 cars in the first nine months of the year – up 5.6 percent year-to-date (YTD) over 2024. The 718, Macan and Panamera posted significant gains YTD, while third-quarter sales of the Taycan and Macan Electric performed well.

Notably, Porsche Approved Certified Pre-Owned (CPO) sales in the U.S. for Q3 reached 12,232 units, a new PCNA quarterly record. Year-to-date, CPO sales stand at 35,439, representing a 13 percent increase compared to the same point last year.

‟Porsche remains strong in the United Sates. This is in no small part because of the support and loyalty of each customer during this time of unprecedented change,” said Timo Resch, President and CEO of PCNA. ‟Choice is vital and what our customers look for, and we’re able to provide it – as illustrated by the new Cayenne Electric that will join the Cayenne gasoline and plug-in hybrid models by year’s end.”

Compared to the same period in 2024, sales in Q3 saw a decrease of 4.9 percent, driven in part by restricted supply. The top seller in the third quarter was the Macan, with 6,599 deliveries, followed by the Cayenne and 911, with 4,294 and 3,448 deliveries, respectively.



PCNA follows the U.S. Auto Industry Sales Release Schedule issued by Moto
r Intelligence. Third quarter new car sales began on July 1, 2025, and ended on September 30, 2025.


https://newsroom.porsche.com/en_US/2025/company/porsche-reports-q3-2025-us-retail-sales.html

 

[ze_shark]

Go read the post again and maybe you will then understand the point you are completely missing ?

Go also check BMW/Merc/Audi unit sales and maybe you will give a second thought to your "volume mover" statement.

Unserious.

 

[Fish Fingers]

Interesting statement from the recent results on future direction of travel:

Porsche would also focus more on making its cars “more individual, exclusive and desirable”, said the CFO.

So that's the route they state they are now taking......which I interpret as selling more premium models, with expensive options.
Trying to emulate Ferrari et al, rather than selling base Macans.

 

[voksic]

Guys, chill... Porsche has some challenges ahead, but you are putting too much meaning to this loss. Read the report.

Sales revenue is more or less the same as last year. It's the operating cost that went up. And it's beacuse of investment write off that VAG ran under Porsche. It was said this will happen. Report says:

"Specifically, development of the planned new electric vehicles platform is to be rescheduled for the 2030s. In collaboration with other Volkswagen AG Group brands, the platform is to be redesigned from a technological standpoint. This rescheduling resulted in impairment losses on capitalized development costs and provisions for outstanding obligations of €1.7 billion, which had a negative impact on the Porsche AG Group’s operating result."

and

"Previous plans to expand the production of high-performance batteries by Cellforce Group GmbH will not be pursued separately in the future. The resulting special expenses of around €0.4 billion impacted the operating profit, largely in the form of impairment losses on production facilities, which affected cost of sales."

That's over 2 billion € write off. They are not giving up on EVs, they are not shiffting back to ICE. They will continue doing both as they always said they will. They acknowledge that the shift is not going as fast as they wanted and therefore will use "given time" to improve the technology and to extend lifetime of some ICE cars.

All is good. Keep calm and carry on.

Sponsored