Shares of Porsche AG Group tumbled almost 6% on Monday after the luxury automaker announced it would postpone the launch of certain all-electric vehicles, citing a “delayed ramp-up of electric mobility.”
The development adds to a difficult year for Porsche, with multiple guidance cuts linked to US tariff pressures and slowing demand in China weighing on performance.
Adding to the setback, the company is set to drop out of Germany’s benchmark DAX index today, marking a major blow to its market standing.
At 9:48 am CET, Porsche stock was down 5.83% at €33.149 per share, extending its recent slump.
