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Porsche AG shares fell almost 10% last week—the steepest drop since its 2022 debut—after the carmaker scaled back its electric-vehicle ambitions. The stock is down nearly 30% this year and will fall out of Germany’s benchmark DAX index. Parent company Volkswagen also slid 8.4%, its sharpest drop in more than two years, according to Bloomberg.
The setback underscores the wider struggles of Germany’s auto sector. Porsche faces weak demand in China, where local champion BYD dominates EVs
Porsche AG shares fell almost 10% last week—the steepest drop since its 2022 debut—after the carmaker scaled back its electric-vehicle ambitions. The stock is down nearly 30% this year and will fall out of Germany’s benchmark DAX index. Parent company Volkswagen also slid 8.4%, its sharpest drop in more than two years, according to Bloomberg.
The setback underscores the wider struggles of Germany’s auto sector. Porsche faces weak demand in China, where local champion BYD dominates EVs
