2024-07-30 03:59:39
Porsche’s first all-electric car is currently undergoing a global recall and is also having to cope with the costs: all Taycans have to go to the workshop because of porous brake lines. And the large SUV Cayenne will be built as a combustion engine for at least longer than expected.
There are a lot of areas to be worked on in this company that is used to success. Porsche had declared 2024 to be a year of transition. But investors are now asking questions about the company’s risk management. And about Oliver Blume’s dual role. As CEO of Porsche and VW, he wears two hats. There are many voices inside and outside the company that say that is too much. In fact, Oliver Blume is the only top manager in Germany to head two DAX companies.
All of this has left its mark on the share price: this year it has lost 13 percent, while the overall market has risen considerably. The share is currently trading at under 70 euros. Just over a year ago it was still worth almost 120 euros.
But there are signs of improvement: On the plus side, Porsche says the second half of the year has started well. The new or revised models should contribute to this. Porsche has confirmed its annual target – a respectable success. There was a lot of bad luck and a number of mistakes, but let’s put it this way:
Porsche has the potential to return to its former strength and more. The customer base is relatively loyal and has more purchasing power than most other car manufacturers, the model range has been completely revamped, and the models will be more readily available in the second half of the year. However, management must prove that it can get the problems under control. In these times, you can no longer live off the myth alone. But somewhere the old Porsche slogan still holds true: “For 100 years, cars have made you independent. One thing makes you dependent.”