sueddeutsche.de
Porsche Cuts Profit Forecast Amidst €3.1 Billion Restructuring
Porsche significantly lowered its 2023 profit forecast to a mere 0-2 percent operating return due to €3.1 billion in restructuring costs, primarily from extending internal combustion engine production and delaying EV launches.
- What is the primary reason for Porsche's drastic reduction in its 2023 profit forecast?
- The primary reason is €3.1 billion in restructuring costs. €1.8 billion stems from extending the production of combustion engine models longer than initially planned, exceeding the previously anticipated restructuring costs. This includes developing successors for existing combustion engine vehicles like the Panamera and Cayenne.
- How will this restructuring impact Porsche's broader strategy and its position within the VW Group?
- Porsche's revised strategy involves maintaining combustion engine models alongside electric vehicles to cater to diverse customer preferences. This shift, combined with delayed EV launches and the abandonment of in-house battery production, marks a significant departure from its ambitious initial e-mobility goals and impacts VW Group's outlook, lowering their profit forecast as well.
- What are the potential long-term implications of Porsche's revised strategy for the company and the wider automotive industry?
- Porsche's strategic shift delays its transition to electric vehicles, impacting its competitiveness in the growing EV market. The substantial financial burden and the scaling back of EV ambitions suggest that the industry's shift towards e-mobility is proving more complex and costly than initially anticipated. This challenges the previously assumed rapid adoption rate of electric vehicles.
Cognitive Concepts
Framing Bias
The article presents Porsche's shift away from its ambitious e-car goals as a crisis, emphasizing the resulting financial losses and job cuts. The headline and repeated references to 'billions in costs' and Porsche being in 'crisis mode' frame the situation negatively, focusing on setbacks rather than potential long-term benefits or strategic adaptations. The repeated mention of missed targets and abandoned plans (battery production) further reinforces a narrative of failure.
Language Bias
The article uses loaded language such as "massive upheavals," "crisis mode," and "rauschen in den Keller" (crashed), which carry negative connotations and create a sense of urgency and impending doom. The description of Porsche's e-car strategy as "not working" is a strong opinion presented as fact. Neutral alternatives would be more descriptive, avoiding emotionally charged words. For example, instead of "crashed", "significantly declined" could be used.
Bias by Omission
The article focuses heavily on the negative financial impacts and setbacks. While it mentions the changing market realities and customer needs as a reason for the shift, it lacks detail on Porsche's new strategies and potential future successes. Omitting discussion of potential benefits or new initiatives presents an incomplete picture, potentially misleading readers into believing that Porsche's response is purely reactive and unsuccessful.
False Dichotomy
The article presents a false dichotomy between Porsche's previous ambitious e-car goals and its current strategy. It implies that the company had to choose between one or the other, ignoring the complexities of transitioning to electric vehicles while managing existing product lines and market demands. The article does not explore the possibility of a balanced approach that incorporates both electric and combustion engine vehicles.
Gender Bias
The article primarily focuses on financial figures and business decisions, with no noticeable gender bias in the language or representation. However, the lack of specific information about employees and their experiences in relation to job cuts or other workplace implications could be seen as an omission, potentially leading to a lack of consideration for diverse impacts.
Sustainable Development Goals
Porsche's decision to continue investing in combustion engine vehicles and delaying the full transition to electric vehicles negatively impacts sustainable consumption and production patterns. The significant costs associated with this shift also highlight the economic challenges of transitioning to more sustainable practices. The quote "Bereits seit Jahresbeginn investiert Porsche wieder in neue Verbrenner" demonstrates a continued commitment to less sustainable production methods, hindering progress towards responsible consumption and production.