Porsche to Finalize Second Round of Cost-Cutting Measures in July: Annual Output to Drop Below 280,000 Units, 718 Series Retained

Porsche CEO Michael Lohscheller stated that the company plans to finalize a second round of cost-cutting measures with employees before the factory summer break in July. The plan focuses on reducing costs, concentrating on core models, and enhancing synergies within the Volkswagen Group. Porsche will adjust and reallocate existing production capacity and deepen collaboration with Audi to optimize resource utilization, aiming to downsize operations and improve efficiency. Lohscheller emphasized that Porsche must reduce vehicle output to achieve profitability, with future annual production capacity set to fall below the approximately 280,000 units sold in 2023. Additionally, Porsche has already cut around 2,000 temporary workers in 2025 and plans to eliminate another 1,900 positions over the coming years. On the product front, the company will continue launching entry-level models in the 718 series.