Peacock Tornadoes eye turnaround season - DiscoverMooseJaw

Porsche is one of the strongest brand names in the world, and for years it was the most profitable automotive entity with a stronghold in Europe, cachet in North America, and huge popularity in China. But all that changed, as have the fortunes of parent Volkswagen Group. The VW Group now expects a slim 1 percent margin in 2026 after taking $11.5 billion in charges tied to worker buyouts, the collapsing China market, and a $6.9 billion write-down on its 75 percent stake in Porsche. The luxury performance-vehicle brand has seen the bottom fall out of the market in China and also paid dearly for reversing its EV strategy. Porsche, once a cash cow, saw its own profit margin reduced to 1 percent in 2025. To address the urgent need for a turnaround, Michael Leiters, chairman of the executive board of Porsche AG, has plans to introduce new models, including a mid-engine sports car above the Porsche 911, while adding larger SUVs, bringing back a gasoline-powered Macan, and working to drastically cut costs in all areas. More emphasis is being placed on the core business and regions such as Europe and North America, both targeted to increase share by 35 percent.