Porsche AG reported a dramatic collapse in profitability for the first nine months of 2025, underscoring the mounting pressures facing European luxury automakers amid shifting global demand and rising costs.

The German sports-car maker said revenue fell 6% year-on-year to 26.86 billion euros in the January–September period. Operating profit slumped to just 40 million euros, compared with 4.035 billion euros a year earlier, marking a staggering 99% drop. Porsche’s operating margin for the period tumbled to 0.2%, far below the 14.1% recorded in the same period of 2024.

Investors continued to punish the stock. Porsche closed at 34.81 euros on October 24, nearly 58% below its 82.50-euro IPO price in 2022, placing shares in what traders often describe as “halved territory.”