It’s been a tough month for Porsche, and not just because one 911 GT3 R finished 13th at the 24 Hours of Le Mans while the other hit a wall. Top management in Stuttgart might also be hitting a metaphorical wall as the automaker – like so many others – struggles to find a way forward in a “very challenging environment,” as CEO Michael Leiters described it today at the Porsche AG annual general meeting.
2027 Porsche 911 GT3 S/C rear 1/2Porsche
As Porsche sheds more light on its “Strategy 2035,” which was first introduced three months ago at the company’s annual press conference, the focus remains on reducing the number of models and trims being offered while prioritizing its legacy for building world-class sports cars powered by internal-combustion engines. It’s difficult to balance that heritage with a jarring economic reality: More than 62% of Porsches sold in its No.1 market (the US) in 2025 were Cayenne and Macan SUVs, not sports cars.
Not About ‘Maximizing Sales Volume.’ Really?
Still, Leiters, who took the helm as Porsche CEO in January, contends that the brand must simplify, take advantage of more modularity and flexible platforms, and do what Porsche has always done best: build cool, desirable sports cars.
Rear and side shot of a 2024 Porsche 718 Cayman SPorsche
“In the future we will focus even more strongly on what defines Porsche and clearly distinguishes it: our sports car DNA, our identity of design, performance, driving pleasure, heritage and exclusivity.”
–Porsche CEO Michael Leiters
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The next-generation 718 Cayman and Boxster are apparently still in the works, as this electric prototype spotted on the Nürburgring shows.
He doesn’t sound much like a bean counter when he says the company’s future is not about “maximizing sales volume,” although let’s not forget that significantly higher sales volume for the Macan and Cayenne saved the company from financial ruin and generated profits necessary to continue developing new 911s, not to mention 718 Boxsters and Caymans. Come to think of it, the four-door Panamera luxury sport sedan was openly dismissed by critics for its size, weight, and purpose when it launched in 2010, but it cashed in to the tune of 235,000 vehicles, helping bolster the bottom line.
Model
Oct – Dec Sales
Full-Year
US Sales Only
2024
2025
2024
2025
ALL 911
3,287
4,702
14,128
13,574
ALL 718
1,877
1,001
5,698
6,399
ALL MACAN
7,187
5,977
25,180
27,139
ALL CAYENNE
6,925
5,693
22,432
20,314
ALL PANAMERA
1,455
1,241
3,982
4,651
ALL TAYCAN
1,353
506
4,747
4,142
TOTAL
22,084
19,120
76,167
76,219
Leiters insists that Porsche will remain the brand for people “who consciously want to drive themselves, especially in an increasingly automated world.” Despite the long-term financial impact of the Cayenne and Macan, Leiters says that “selling more cars doesn’t automatically make Porsche stronger.” From a brand perspective, that makes sense, but he also talks about the importance of profitability, and there’s no disputing the profitability of the Macan and Cayenne, compounded by significantly higher volumes than for the 911 family.
Porsche Cayenne Turbo spy photoCarBuzz/Valnet
“We become stronger when customers make a conscious decision to buy a Porsche. It’s not because they really need it. It’s because they really want it. And then they are willing to pay the appropriate price.”
Hybrids Are More Than A Bridge Forward
Porsche Taycan GT4 Spy PhotoCarBuzz/Valnet
But Porsche is making difficult decisions, such as canceling two all-electric Taycan variants for North America (Cross and Sport Turismos) while pursuing a multi-powertrain lineup that includes internal combustion and hybrids, and remaining committed to the Cayenne EV.
No Electric 911
Leiters says the hybrid drive system is not just “a bridging technology” but one that will be a “fundamental building block, a sort of elixir of life for the future” 911 lineup. And in case you’ve been wondering about a 911 EV, the boss makes it perfectly clear: “There will be no fully electric 911.”
Porsche AG Group
Q1 2026
Q1 2025
% Change
Sales revenue
$9.6 billion
$10.0 billion
-5.2%
Operating profit
$677 million
$868 million
-21.9%
Operating return on sales
7.1%
8.6%
Deliveries to customers
60,991
71,470
-14.7%
CarBuzz Insight – Why This Matters:
Porsche finds itself at an uncomfortable crossroads, emphasizing the importance of its sports car roots while needing high-volume SUVs to survive. If more streamlining of the portfolio is to come, might the Panamera be on the bubble? In the US, Porsche sold 4,651 Panameras in the US in 2025, just 500 units more than the all-electric Taycan. 911 sales were nearly three times higher than Panamera.
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The automaker is in restructuring mode. “We are fundamentally rethinking the development of our sports cars,” CEO Leiters said.
The picture should become clearer on Oct. 7, when Porsche hosts its Capital Markets Day and fills in the details of its Strategy 2035 plan. With that title, it sounds like Porsche has nine years to execute this long-term plan to put the automaker back on sound footing, but top management and especially shareholders must be expecting positive results much sooner. Job cuts are already being discussed with unions. “But in order to secure our competitiveness in the long term,” Leiters says, “the streamlining of the company planned so far will not be enough.”
