Porsche Profit Rebounds as Turnaround Plan Gains Momentum
Porsche reported a significant recovery in operating profit for the first nine months of 2026, reaching €1.74 billion compared with just €40 million in the same period last year. The results indicate early progress under CEO Michael Leiters, who took charge in January and introduced a restructuring strategy focused on reducing costs, streamlining operations and shifting away from China. The company’s profit margin also improved to 6.9%, recovering from a record low of 1.1% in 2025.
The recovery was supported by a 12% increase in sales of Porsche’s flagship 911 sports car, the only model in its portfolio to record sales growth during the first nine months. Leiters is prioritising exclusive, customised and higher-margin vehicles to improve profitability while creating a more focused business. Porsche shares rose 2.3% following the announcement, as analysts highlighted stronger-than-expected third-quarter margins of more than 10%.
Despite the improvement, Porsche continues to face challenges from US import tariffs and declining sales in China. The automaker, part of the Volkswagen Group, is also managing the financial impact of its earlier electrification strategy, which resulted in €2.7 billion in restructuring costs. Finance chief Jochen Breckner said a potential Audi production facility in Georgia would not trigger a shift in Porsche’s manufacturing operations, citing additional costs and supply-chain complexity.
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