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Porsche plunges on the stock exchange

» Updated: 24 July 2024, 07:06

» Published: 23 July 2024

Porsche plunges on the stock exchange
Photo: Marcio Jose Sanchez/AP/TT

Luxury car manufacturer Porsche fell on the Frankfurt Stock Exchange by over five percent following yesterday's profit warning regarding 2024. The background is a shortage of a specific type of aluminum alloy used in production and which several subcontractors are now having difficulty delivering.

Sales are now expected to land at 39-40 billion euros for the full year 2024 compared to a previous forecast of 40-42 billion euros.

The profit warning came ahead of the company reporting new quarterly figures on Wednesday.

TTT
By TTThis article has been altered and translated by Sweden Herald

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