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Porsche expects weaker returns this year as it moves forward with electric models.
The luxury sports car maker, majority owned by Volkswagen, warned that profitability will take a hit this year, with margins falling as much as 15 percent.
This is lower than the 18 percent it achieved in 2022 and 2023.
The company is moving forward with production of its 911 hybrid car, which will be launched this summer.
Although the company has not confirmed exact details, industry expects a starting price of around £90,000.
Porsche, which is majority owned by Volkswagen, warned that profitability will suffer this year and that margins will fall to 15%.
The new model range also includes an upgraded version of the electric Taycan.
However, the group has been hampered by ongoing supply chain issues and high inflation, which has driven up production costs.
Analysts at Citigroup called the guidance “disappointing” and said a return on investment in new cars would take time.
‘Porsche will focus on branding and pricing in the future, but for this it was necessary to renew the product range.
“This is happening now, but the full impact on prices and profitability will take time,” they said.
Porsche shares fell 4 percent in early trading, but recovered during the day to close up 4.25 percent. However, they are down almost 12 percent in the last 12 months.
The estimates came as the Stuttgart-based group posted sales of £35bn by 2023, up £33bn from the previous year.
During the year it delivered 320,221 cars.