AsianFin -- Shares of Porsche tumbled 6.2% in early Frankfurt trading on Monday, following the German luxury automaker’s announcement that it is slowing the rollout of its electric vehicle lineup amid weak demand and lowering its 2025 profitability forecast.

The news also weighed on Volkswagen, Porsche’s parent company, which fell 4.0% in early trade, and Porsche SE, Volkswagen’s largest shareholder, which dropped 2.7%.

Investors reacted to the guidance downgrade and the more cautious EV strategy, signaling concerns about demand in the premium electric vehicle segment.