Porsche AG is considering cost reductions and a review of its model lineup due to a significant decline in sports car sales in China, resulting in a sharp drop in profits.

The company's Chief Financial Officer, Lutz Meschke, stated that the third quarter of 2024 was the weakest performance period, which was attributed to slowing demand in China and a global decrease in interest for electric vehicles.

Despite these challenges, Porsche remains optimistic and maintains its full-year guidance, expecting a recovery in demand in the final months of the year. The company is strategically positioning itself to adapt to changing market conditions while aiming to stabilize its financial performance.