Porsche (P911) CMD 2026 (Q&A) summary

Midterm outlook and recovery

• Midterm (2030–2031) revenue of EUR 41bn–EUR 45bn; volume near 2025 levels under a value-over-volume approach.

• Targets: 10%–15% Group operating return on sales and 9%–12% Automotive net cash flow margin.

• 2027 expected to be the trough for profitability, net cash flow and volume; recovery begins in 2028 and builds through 2029, with midterm target levels not expected in 2028.

• China assumptions are below 10% of volume, with no recovery built into the plan; growth depends on having the right product.

• Conservative external and FX assumptions place the plan toward the lower end of the EBIT range; improved conditions, including a stronger U.S. dollar versus the euro, could lift outcomes.

Strategy and positioning

• Sportwagenschmiede ’35 prioritizes value over volume, higher value per vehicle, greater exclusivity and a leaner, more agile organization.

• Expand individualization and high-end offerings; target ~20% higher average selling prices for top models and sixfold medium-term Sonderwunsch sales.

• Target ~20% fewer model variants, ~30% higher sales volume per variant and a ~45% higher D/E-segment share in the medium term.

• Quality initiative targets improved customer-perceived product and service quality and up to 45% lower warranty costs in the medium term.

• Move the portfolio further upscale while retaining attainable choices, including Macan ICE; Mission S planning aims to avoid cannibalizing the 911.

Products and technology

• Electric Cayenne launched in 2026; electric 718 planned for 2027, with 2028 expected to be its first full production year.

• Macan ICE and plug-in hybrid planned for 2028, with a first full year in 2029; a B-segment SUV with combustion and plug-in hybrid powertrains is planned for 2028, contributing to sales and profitability in 2029.

• 2027–2028 volume recovery is expected mainly from the 718 and Macan ICE; later D-segment additions and further 911 derivatives could support volume and mix.

• Develop a mid-engined super-sports-car platform above the 911 and explore a D-segment SUV above Cayenne.

• Panamera and Cayenne successors are included as combustion and plug-in hybrid models alongside continued electric Cayenne development; technology investment includes next-generation batteries and Audi PPE and PPC platforms.