Porsche sells fewer cars but profit rebounds in first nine months of 2026

Third-quarter revenue slips while profit returns

Porsche AG reported on Tuesday, 27 October 2026 that third-quarter revenue fell 7.5% to 8.05 billion euros, slightly below what analysts had expected. Operating profit for the quarter came in at 387 million euros, compared with an operating loss of 966 million euros a year earlier, when special costs weighed on the result. The operating margin of 4.8% matched expectations. Chief executive Michael Leiters confirmed the annual outlook. After nine months, profit after tax stood at 1.82 billion euros, against 114 million euros a year earlier, when the sports car maker was in the middle of a realignment.

Nine-month figures and the margin target

Across the first nine months, revenue fell almost 6% to 25.28 billion euros, while the operating result reached 1.74 billion euros against 40 million euros a year earlier. Revenue fell less than unit sales, which dropped 16%, because models with higher margins sold at higher prices. The operating margin of 6.9% sits inside the 5.5 to 7.5% corridor set for 2026. It had dropped to just over 1% last year, compared with about 18% at the 2022 stock market listing, and the share price has halved since then. Finance chief Jochen Breckner confirmed the forecast set at the start of the year, along with the medium-term aim of an operating return on sales of 10 to 15%.

Volumes under pressure in China

Deliveries fell 16% in the year to date, to 178,352 vehicles. The sharpest drop came in China, where unit sales fell by a third. The group is also hit by higher US import tariffs and weak demand for electric sports cars, and Porsche is putting more money back into combustion engines because luxury and sports car buyers have been hesitant about electric models. Demand for the 911 and high-priced derivatives helped cushion the slump and kept profitability up, even as factory utilisation weakened.

Jan-Sep 20250.04

Jan-Sep 20261.74

Jan-Sep 2025

0.04 EUR billion

Jan-Sep 2026

1.74 EUR billion

Data from the article text

Bespoke cars and a lower break-even point

According to Motor1, as cited by the Portuguese outlet SAPO, Porsche wants to reach break-even with fewer than 200,000 vehicles sold a year. Its Sonderwunsch personalisation division is working on 15 one-off projects, according to Alexander Fabig, vice president for individualisation and classic, who spoke to Automotive News. SAPO gives prices from just under 2 million euros up to 15 million euros for those cars. Focus, citing the same Automotive News conversation, gives nearly 2 million US dollars up to about 15 million US dollars, so the currency figures differ between the two reports and are not reconciled. Future top sports cars could cost more than three times the entry-level 911, and restoring a Carrera GT, of which 1,270 units were built between 2003 and 2006, can cost up to 800,000 euros.