Porsche Unveils 2035 Strategy, Targets Sub-200,000 Break-Even

Porsche presented its Sportwagenschmiede '35 strategy to investors at a capital markets day in Weissach and set a break-even target below 200,000 units, after 2025 deliveries of 279,449. Medium-term operating margin is targeted at 10% to 15%, with a long-term group operating margin of 15%, following a 2025 operating margin of 1.1%. Automotive net cash flow margin is targeted at 9% to 12%, long-term 12%. An agreement with labor representatives covers elimination of around 9,000 positions and job security for permanent employees through 2035. About 5,000 jobs in the Stuttgart area are to be cut by 2035, with no involuntary layoffs before then. Total workforce including direct and indirect roles is expected to shrink by up to 25%, with an ultimate goal of 30%. Management posts fall 40% in the medium term; development costs for future model lines drop by up to 20%. CEO Michael Leiters confirmed there will be no electric 911. Outlets report matching figures on break-even, margins and workforce plans. Execution of the cuts and product shift runs through 2035.