
Luxury Carmaker Under Market Pressure: Porsche Struggles with Declining Demand
The year 2024 was turbulent for the European automotive industry, leading to declines in corporate profitability and outlooks suggesting that the situation is unlikely to improve anytime soon. One such case is the German luxury car manufacturer Porsche. Although the company reported strong financial results, last year was marked by a downturn. In addition to challenges in Europe, it also faced a drop in demand in China. Despite this, Porsche is striving to sustain and revive its business by implementing measures such as strategic cost management.