According to foreign media reports, Porsche’s presentation documents disclosed in an investor conference call before the announcement of second-quarter results showed that due to the cost of U.S. import tariffs in April and May, the two-month performance is expected to be impacted by 300 million euros ($351 million).
Porsche previously only estimated that it would face hundreds of millions of euros in losses in the past two months, but did not disclose the specific amount.
Image source: Porsche official website
Porsche’s sales declined in the second quarter of this year due to the impact of US tariffs on European cars. According to the latest data released by the Volkswagen Group, Porsche delivered 74,900 units worldwide in the April-June quarter, down 4.3% from 78,300 units in the same period last year. In the first half of this year, Porsche sold a total of 146,400 vehicles worldwide, down 6.1% compared to 155,900 units in the same period last year. But it’s not enoughelectrificationThe market share of models increased by 14.5 percentage points year-on-year to 36.1%, of which 23.5% were pure electric models and 12.6% were plug-in hybrid models.
Not only Porsche, but also other luxury brands under the Volkswagen Group have also seen a decline in sales. The three luxury brands, Audi, Bentley and Lamborghini, sold 405,300 units worldwide in the second quarter of this year, down 8.3% year-on-year, compared with 441,900 units in the same period last year. This highlights that US President Donald Trump’s tariff policies are putting pressure on the Volkswagen Group’s high-margin brands.
Porsche, like the Volkswagen Group’s Audi brand, does not currently produce cars in the United States. This makes its business highly vulnerable to the impact of U.S. tariff policies while facing challenges such as declining demand, fierce competition in the Chinese market, and slow adoption of electric models.
Previously, it was reported that Porsche CEO Oliver Blume, who is also the CEO of the Volkswagen Group, is considering moving the final stage of Porsche model assembly, such as interior component installation or tire assembly, to the United States to ease the impact of the Trump administration’s tariffs on imported cars. Other possible measures are also under consideration, and Blume said all options are under discussion.
However, a Porsche spokesperson later said that the company had no plans to transfer any part of the production process to the United States, denying the report.