Porsche loses 800 million euros due to product line adjustment

Porsche recently announced that it expects to lose 800 million euros this year due to product line adjustments. The news puts further pressure on the company's profit margins. Porsche plans to add internal combustion engine models and plug-in hybrid models to expand its product portfolio, but the related expenses will cause the sales profit margin to drop to 10% to 12% this year. In addition, due to the slowdown in demand for electric vehicles, Porsche withdrew from the ranks of major automakers transitioning to electric vehicles last year. The decline in deliveries in the Chinese market has also brought high costs.