The tariff war is making things tough for every automaker, and Porsche is no exception. The German brand was having issues before the Trump administration announced 25-percent tariffs on vehicles imported to the United States, but now we have a better understanding of the situation following the company’s first-quarter financial review.
In short, pretty much everything is down, and some numbers are way down. Perusing the quarterly statement, operating profit for the automotive side is down 43.8 percent. Overall profit for Porsche AG is almost as bad, with a 40.5 percent drop. Operating return on sales plunged from 14.2 percent to 8.6 percent. Operating net cash flow for automotive fell by 91 million euros.
Photo by: Chris Perkins / Motor1
Those are global stats, driven by declines in China and “geopolitical uncertainties, particularly with regard to US trade policy,” per the automaker’s statement. It’s led to Porsche revising its 2025 forecast, cranking down revenue to between 37 and 38 billion euros. Previous forecasts had it at 39 to 40 billion euros. Profit margins are projected to drop as low as 6.5 percent—roughly half of previous estimates. The company isn’t broke, but it’s certainly bleeding.
And it will likely get worse before it gets better. Reuters reports that US tariffs, which began in April, are only factored into Porsche’s forecasts through May. Porsche AG Chief Financial Officer Jochen Breckner, who took over the position in February 2025, told reporters and analysts the company was already absorbing a $114 million hit through April and May because of tariffs.
Thus far, there have been no tariff-related price changes to Porsche vehicles. The automaker increased shipments to the US to shore up inventories before the 25-percent tariff on cars went into effect. But with no US-based manufacturing—and no plans to add any—he warned that price hikes will come if tariffs remain in place.
“We see a very special and challenging situation,” said Breckner, according to Reuters.
It’s unclear at this time what kind of increases Porsche could add. The current 911 already received a price bump for 2025, and buyers may not be deterred by added costs anyway. This is already a six-figure supercar that can reach well over a quarter-million dollars, but Porsche’s bread-and-butter SUVs could suffer from added tariff fees.