Porsche CEO: "We Are Losing Billions and May Have to Break Up the Company!"

[@IUnknownIDispatch]

From Porsche news site, "Sales revenue rose by 25.5 per cent over the same period last year to 10.10 billion euros (previous year: 8.04 billion euros). Group operating profit rose by 25.4 per cent from 1.47 billion euros to 1.84 billion euros. At 18.2 per cent, the Group operating return on sales was on par with the figure for the same period last year. After the first quarter, automotive net cash flow was 1.43 billion euros (previous year: 778 million euros). Oliver Blume, Chairman of the Executive Board of Porsche AG, adds: “Our sports car brand is celebrating its 75th anniversary this year. And we are stronger positioned than ever before" I think Porsche is doing fine despite claims made by this video

[@pfan12000]

Absolutely correct about Porsche being financially in great shape. It is unfortunately tied to the parent company the Volkswagen Group which is losing money and grappling with their diesel emissions debacle. The Elite Vehicles poster is full of misinformation-just his opinion of what he thinks will garner more views.

[@philc1773]

It's not fine....it's stupidly going electric and Ferdinand would turn in his grave if he knew what these charlatans are pushing! Long live the flat 6!

[@thedoog0106]

So video is lying ?😊

[@666Counterforce]

Exactly! This video AND this channel are absolute garbage - just fake news clickbait

[@JohnICGomes]

Agree this is made up stuff. Audi and VW are owned by the same group as Porsche. So Porsche is doing just fine when it comes to electrification.

[@911porschephile5]

Porsche cars are the most difficult car to get an allocation to and they can’t produce enough cars for the line of people wanting to buy. They are also the highest profitable car company on earth. No one who buys a Porsche cares about an electric vehicle either. They will sell every gas car they can make for as long as they are allowed to sell. With their carbon neutral fuel, that would solve the worlds problems with environment concerns and with the cars we enthusiasts want to drive. At some point when they are required to only sell electric, they will create passion like no other car manufacturer, but will never have the emotional connection like a flat6 and a manual transmission can deliver.

[@peterlaufer4077]

Amen

[@steffidas4785]

Having standards will make stuff difficult eventually,it will always be my first love in super cars and will have most of my soul that's because what they built was wayyy exquisite and lasting for everyone involved, apparently all German cars comes up with something or the other which is realistically useful,except Volkswagen because I only liked their cars in around the time when they launched vento/ameo no other cars of theirs I have ever liked and maybe never will,they reason why Porsche lasted was they were not the ones who ran to change their cars with time,all the evolution or progression had extremely good usefulness and meaning so I truly don't think what is being said will happen

[@Only-one-life-68]

Disagree 😢.. Porsche brand will be screwed with EV only.. There brand is brilliant YES.. Though it’s the ICE and the driving experience that allows the high retail price.. EV will never get them there following

[@leobrown6875]

Load of rubbish

[@kayronmercieca8226]

I think going balls-deep into electrifying everything but the 911 will actually potentially kill Porsche as a company.

[@Piecenotwar]

I smell bull💩, Porsche is one of the few legacy manufacturers I see having a robust future.

[@Only-one-life-68]

Unfortunately NOT with the roll out of EV models.

[@user-zx1ir7jt4c]

​@@Only-one-life-68well that's their fault...

[@anchoragealaska3104]

I'd rather peddle a bike to work every day than drive an electric vehicle....

[@mcluvinole9098]

Fake news

[@KansaSCaymanS]

Porsche has always been one of the most profitable automakers in the world (though unfortunately they have had to help support VW). The only potential problem is that they are being forced into producing EV models, which given the Taycan’s lukewarm popularity does not bode well for other planned EV models.

[@jamietherooster]

I don't know how the taycan is lukewarm in popularity. I see many of them, way more than i'd expect given the price. Imo it's the most attractive looking car on sale today too

[@MWS1960]

I’ve never driven a car like..my 2002 Boxster in Racing Yellow and now my 991.1 2014 in Racing Yellow…expensive to own and repair but damn I love this car

[@Lab-Rat]

I don’t see how they’re losing money you can’t even get an allocation because every 911 is sold out

[@scurfawatches]

Have another look over 100 brand new unregistered 911’s available in the uk today, things have take a drastic turn recently.

[@a64738]

They say Porsche sales in Norway have gone down so much that many Porsche dealers have to shut down... Also 1 month ago was last chance to order a new Cayman or Boxer with combustion engine, they are from now on only electric... (the all electric only versions comes in 2025 but the already have shut down the production of the car with combustion engines).

[@georgegarvey7338]

I've got news for you: No one wants to buy EV's anymore.

[@a64738]

And Porsche just shut down the production of Cayman and Boxers with combustion engine as they are going electric only from 2025. Last chance to order one was one month ago...

[@pcar5]

This qualifies as the most absurd video of the year.

[@blkbmwm98]

This is not true, Porsche is not close to being broke or losing billions. Sales revenues rose by 14.0 per cent to 20.43 billion euros reported in July of 2023.

[@hauolivision]

As a future 911 buyer the last thing I’m concerned about is electricfication. This video is way off.

[@ahzzie4894]

As a future 911 buyer, fuck electrification. If it goes electric I’m just getting a motorcycle like my original plan. I’m seeing more men, not people but men talk about motorcycles instead of gas because there is no talk about pushing bikes into electric vehicles

[@ahzzie4894]

Edit: Yamaha and Honda confirmed staying gas, Harley isn’t for men so we don’t include those weirdos who buy electric vehicles

[@colinbell8250]

Hope you drop the ev game and stick to what you do best.

[@TheStigSix7]

They made too many trim levels of Taycan. There aren’t enough Taycan buyers to justify it. Meanwhile there are 10 buyers for every 911 they build. Stop trying to be Tesla, and stick to being Porsche if you want to stay profitable. Build what the customers want, 911’s, GT3’s, Caymans etc. Only have 2 trims for the Taycan and extend the range and maybe it will sell. To call a Taycan “Turbo” is also dumb.

[@1985msac]

Porsche 911 should use gasoline , Many people do not likeElectric car including me and my friends. Electric car is not convenient , need to charge every day and have to worry out of electric when drive long way . and it is waste time to charge every day, So Porsche do not just follow some car company use electric car, Gasoline stations is more convenient for most the people to add gasoline. thank you. Porsche Top Management see this.

[@Bruce-r4z]

this is the world we live , yellow digital journalism is the new norm with no sources like traditional journalists know they have to have.

[@jeffbrassard1268]

This makes no sense as Porsche Y-O-Y sales through Sept of this year are up almost 10%. This coupled with the highest gross margins on any production auto builder means it is doubtful they are losing billions. Here is another news flash, ICE aren’t going away anytime soon. Brand loyalty will carry this company for decades to come.

[@guantou2520]

Porsche the company are not the problem, the dealership are their downfall, sales and service are dire.

[@Jack-bs6zb]

That’s the complete opposite of my experience.

[@rm1856]

Clickbait titles. Porsche is one of the most profitable automobile manufacturers. Part of the VW, Audi, Bently, Lamborghini, and Ducati group, Porsche is doing quite well. It's like when people say Apple is in trouble but they have a $3 trillion market cap.

[@a64738]

Porsche might be doing well but the Porsche dealerships say they are unable to sell the cars they have in stock...

[@TubTechGuru]

Porsche lost me when they announced the move away from gas to EV for many of their flagship models…

[@lylez00]

Toyota quit making EVs, so I don't think that's the problem.

[@zuze9112]

Well if Porsche would have cheaper model like 924 , more cares would be sold.

[@zumzum011001]

What a bunch of BS. Nobody wants EVs

[@RAM9119]

Sell them cheaper. Will sell more! Might make money back quicker ;)

[@LSRG-YT--LandonSRobloxGaming]

The Taycan wasn't the brand's first all electric car, it's first ever car was electric way back in the late 1890s.

[@neilgaydon5430]

In depth examination...is a joke. This is someone trying to short the stock. 2023 sales of $44 billion with return on sales of more than 20% long-term. Significant investments in third party technology companies, new fuel types and new distribution partners including China. They are top 3 greatest luxury automotive brands of all time. In 1972 they launched lifestyle brand Porsche `Design ahead of everyone and in 2017 built Porsche Design high rise Towers in Miami where you can park your car next to your apartment so you can gaze on it!

[@eduardonogueira9319]

porshe will find its way, like in the 2000's when the cayene and the panamera save them from bankruptcy

[@geraldbennett7035]

in other words, ESG is crushing a great company.

[@PropDeskJunkie]

I see dozens, dozens of Macans and Cayennes on lots and overflow lots. But try getting a 911 or Cayman allocation. Ridiculous. They had a big order book of 718 GT4s and made dealers give those deposits back. From the outside, seems like maybe someone needs to rethink their production priorities.

[@aime4825]

Screw ev there expensive and get stuvk in winter or no electicity in the city to to charge . Screw all evs. Im stiking with gas

[@50gary]

Tuned it out, can't even say the name correctly.

[@laurocaramanico2596]

EV Cars are a huge financial bubble, like to 2008 sub prime crisis, and is about to explode: all Porsche is, is due to 911 with its flat 6 and Motorsport. Is about EMOTIONS that only ICE can give. The Porsche buyer persona is typical a petrolhead, proud and happy to drive his/her 911, listening its marvelous engine: not to show up in a charging station in a appliance on wheels with lots of wide screen etc. ...

[@user-zx1ir7jt4c]

It just happened, Tesla stock has hit record lows...

“Porsche continued its positive business development in the first half-year of 2023. In the first six months of the year, the sports car manufacturer posted significant gains in Group sales revenue as well as Group operating profit. Sales revenues rose by 14.0 per cent to 20.43 billion euros.”

[@Daggers.33]

Maybe if they actually sold cars to people instead of picking and choosing if you are allowed to buy one and using invite only, then they might have more money 🤔

[@pfan12000]

Not the company but the dealers and insane speculators that drive up the prices of their GT3/4/RS. If you think Porsche is being snobbish try getting a Ferrari!!

[@Daggers.33]

@@pfan12000 I actually had a much better experience with Ferrari. As Porsche would not sell me a 911 turbo s until I brought a few other cars that they wanted to sell to me first before I went onto a wait list, I went to Ferrari and brought a new Roma, only a 6 month wait. I have to say the dealer experience was much friendlier and helpful. So I would partially disagree with your comment.

[@EddieRicks-i8v]

I am going to buy one ☝️ one day hopefully soon 😂

[@carstenfischer5098]

I guess that Porsche are paying billions to the "Green co2 Mafia" because they dont sell enough electric

[@gregoryh4601]

Maybe it the Dealership Markup and not Selling a lot of Vehicles ( like the older years and the Dealership could be Busy as H in the Service Area. Have you thought that ? These Dealerships want to Sell one new Vehicle to pay the Bills for one month. And sell Two or Three Use Vehicles to pay the Workers. Greedy people. Porsche come out with a Sport car that get Great MPG or Can Do High Speed.

[@a64738]

Cayman 2 liter turbo has great gas milage and speed is limited by the rpm... And if you want 400 to 450hp is quite easy to get out of the engines thanks to it having a turbo. But sadly Cayman and Boxers with real engines is no longer being produces as they are now going all electric only... Last chance to order one with real engine was 1 month ago.

[@KN-lq4zv]

Click bait

[@AH4Z]

Just for views?? Your videos have no references or articles we can find on search. Have to call you out. Post a link in your descriptions cause seems like false info.

[@raydesartistes1454]

Porsche is a part of the Volkswagen Group who is also the owner of Bugatti, Bentley, Lamborghini, Audi etc. So he's talking nonsens!!

[@richardautenzio8117]

Sadly the Porche's name has become a very fashion name, and the problem with fashion is that it comes and goes. Whilst they have had success with its SUV's they have lost their way to the niche market they once had, to now a common mass car market, which is based more on numbers and brand name than a unique car it once was. I am not even a Porche fan but can I can see this happening with so many great names of the past, as CEO'o who know little about cars, care more about dividends and fast profit than building really fine cars.

[@stevejames9507]

The EV is already doomed...

[@njnj785]

Porsche has a factory in asia specifically in Malaysia

[@danny200mph5]

Reporting for misleading

[@adhoc9647]

In a nutshell: pure Porsche propaganda.

[@John83118]

This is a stellar piece; akin to a book that was stellar in its insights and impact. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight

[@NinjaS006]

Why does KZbin allow shit that is not true, like this, yet does not allow other shit that is true? Porsche is doing fine and has a good strategy to face the new market paradigm of EVs. I mean, Porsche actually makes high quality EV's and is a benchmark for Tesla and other EV manufacturers.

[@tsifty1]

With stupid prices being charged, cry me a river. That’s what you get when you headed by consultants .

[@MikeSmith-dd7oz]

Their stock has been a disaster….

[@richardly438]

Porsche Dealers stole those billions

[@quackyduck1499]

He's dreaming because of the Nord stream pipeline. Energy costs have risen sharply for Germany making it tough for industry. And he's dumb because most German auto makers don't make their cars in Germany and the ones that do are elite and can pass on the costs because of elitism

[@Bleibaer]

As long as Porsche don't get woke they will do fine. Tesla is not in the same niche, has different costumers. Maybe something like Lamborghini or Ferrari. And they will never produce EV.

[@fairenough4970]

Why? you have to go through this to spread a lie

[@ES175jazz]

what a scammer title!

[@LWRC]

This video and channel is clueless on this segment!!! WTF are you even talking about??!!!

[@PaulWinkle]

Clickbait nonsense sponsored by Tesla?

[@KS-ro6in]

HINT HELLO PORSCHE- Too expensive and too much of the same . Porsche needs a new "price leader" something like a Porsche 944S from decades ago.... Lower price, hybrid, PDK auto only , spartan, front engine ,RWD , LSD, and 1.5 to 2.0 w/ hybrid. aero, cloth seats, no sunroof , no leather, 18in wheels, lightweight. very economical .......under 45k USD

[@pfan12000]

No No No. Cheaper sports cars that have Porsche levels of quality and performance cannot be sold at profitability as Porsche is not mass sports car volume producer and they have learned to build Macans and Cayennes (SUVs) which the American market loves over sports cars. Porsche sold 80,000 plus Macans versus only 10,000 Caymans and Boxsters.

[@davidforde9341]

This is a load of rubbish, Porsche is one of the most profitable car companies in the world and backed and owned by the largest car manufacturing company in Europe VW.

[@MikeSmith-dd7oz]

Check the stock. I’ve lost (on paper) more than half of my investment. 💸💸💸💸💸

[@jonathansumilang9220]

Fake news lol😅

[@vipinpg]

Call TATA india

[@mediocreman2]

What a lying video. Porsche is doing great.

[@thedoog0106]

Fake info here

[@SuperMassman]

☝️🤡,, someone can't read a balance sheet ..

[@tropicthndr]

They wasted millions and millions trying to grab every corner of the market like Romans over expansion, and with too many stupid ideas, instead of just doing what “Singer” did, build it to perfection.

[@ronaldwilson1373]

You can say what you want. There will always be enough gear edge to buy a Porsche

[@watchdealer]

This guy worked really hard on a stupid video.

[@MrJosefK]

#Clickbait 😂😂😂

[@rickerbyct]

Utter nonsense! In 2023 Porsche profits where 19% on turnover of 42bn Euros - and they’re owned by VW so “breaking up” would hardly be they’re decision. Who produces these pathetic videos and why??

[@ChinoJunior1]

😂Fake news

[@dogefromthefuture]

This video is Chinese propaganda

[@a-verybasic2]

BS

[@derbender9264]

All BS in this Video

[@maurojosed]

this video is false, show your source Elite Vehicles...

[@rgb1384]

BS