Porsche shares continued to fall on Friday after the company released its latest vehicle delivery figures. The stock dropped to €42.35, its lowest level since November 2021. It is now about 14% below its November peak and roughly 61% lower than its all time high.
The luxury carmaker has been under heavy pressure over the past few years. Several challenges have hit the business at the same time.
One major blow came from the United States. Former president Donald Trump imposed a 15% tariff on German imports. This hurt Porsche more than many rivals because the US is its fastest growing market. Porsche also produces all of its vehicles in Germany, leaving it fully exposed to the tariffs.
Another setback came from its push into electric vehicles. While its first electric model saw strong early demand, momentum later slowed sharply. This problem is not unique to Porsche. Other automakers such as General Motors and Ford have also reported large write downs linked to electric vehicle investments.
At the same time, Porsche has struggled in key international markets. China is a clear example. The company faces rising competition from local brands such as BYD, XPeng, Nio, and Xiaomi, which offer cheaper and increasingly competitive models.
Porsche said its global vehicle deliveries fell by 10% last year. This marked its weakest performance since 2009. Total deliveries came in at 279,449 vehicles. Germany and China accounted for much of the decline.
The company, now led by a new chief executive, has promised to improve performance this year. Porsche has scaled back some of its electric vehicle plans and said it will focus on launching new models and improving profit margins.
Recent financial results underline the pressure. Revenue fell 6% to €26.86 billion in the third quarter. Operating profit collapsed by 99% to just €40 million. Customer deliveries during the period declined by 6%.
There are some positive signs. Porsche remains one of the strongest brands in the global auto market. Demand could improve if conditions stabilize. Germany has also announced plans to offer a €6,000 incentive to support electric vehicle purchases, which could help boost sales.
From a technical perspective, the stock remains weak. Shares have fallen steadily from a high near €110 in 2023 to current levels around €42. The price sits below all major moving averages, indicating that selling pressure remains strong.
Chart patterns suggest further downside risk. The stock has formed a large bearish flag pattern, which often signals continued weakness. A drop toward the March 2025 low near €38.6 appears possible. If that level breaks, further declines toward €35 or even €30 cannot be ruled out.