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Euronews
Euronews
Indrabati Lahiri

Porsche profit jumps 34% despite China slump and falling sales

Porsche China Michael Leiters Porsche AG United States

German luxury carmaker Porsche AG reported a 34% rise in first-half operating profit to €1.35 billion on Wednesday, despite lower revenue and a double-digit decline in vehicle deliveries. The result was ahead of analysts’ average projection of €1.26bn, according to S&P Global Visible Alpha.

Once Volkswagen’s most reliable source of profit, Porsche has been hit especially hard by slumping Chinese demand for German luxury cars and weaker-than-expected electric vehicle sales.

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