Porsche plans pricier cars, staff cuts | Arkansas Democrat Gazette

Porsche is planning pricier cars and major workforce reductions as profits deteriorate sharply amid weakening China demand, U.S.-led tariff pressure and a costly reversal of its electric vehicle strategy. The sports-car maker said it will cut a quarter of its workforce and rein in China ambitions after its profit margin fell to 1.1% last year, down from 18% two years earlier. Porsche is led by Michael Leiters and is also seeking “value over volume,” aiming to reduce development costs by up to a fifth while raising the average price of its top-end models by around 20% to 330,000 euros (about $370,000). By around 2030, Porsche expects to cut 25% of jobs, roughly 9,000 positions, with some cuts potentially reaching 30%. The move highlights broader German-industry pressure from faster-moving Chinese competitors.