FRANKFURT (Reuters) – Luxury sportscar maker Porsche AG on Friday warned it may cut costs after a slower-than-expected transition towards electric vehicles and persisting weakness in the Chinese market caused nine-month operating profit to fall by more than a quarter.
“For this reason, we are reviewing our product line-up and ecosystem, as well as our budgets and cost position. All with the aim of increasing our flexibility and resilience even further,” Porsche AG CFO Lutz Meschke said.
(Reporting by Ilona Wissenbach and Christoph Steitz; Editing by Miranda Murray)
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