Porsche CEO Lo Mingkai: This year must return to high profit margin, "will not join price wars"

Porsche releases its 2025 financial report, with a total annual revenue of 36.27 billion euros, sales profit of 4.13 billion euros, and a global delivery of 279,400 units, a decrease of 10.1% compared to the previous year. Deliveries in the Chinese market have dropped by 26%. Porsche's global CEO, Luo Mingkai, stated that in 2026, the company will focus on streamlining its product portfolio, targeting high-end niche markets, strictly controlling costs and channels, advancing corporate transformation, and aiming to achieve a high profit margin in line with brand standards by the middle of this year. He emphasized that Porsche will not engage in price wars and plans to reduce its dealership network to 80 by the end of 2026.