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Porsche plans to reintroduce a combustion-engine Macan alongside the all-electric model as the sports car manufacturer adjusts to weak battery-electric vehicle demand and costly disruptions to its product strategy. The company is also ruling out a fully electric 911 while seeking a balance between petrol and electric vehicles. HSBC estimates the Macan transition could cost Porsche about 25,000 units and €500 million in profit in 2027.
since January and is slowly rolling out his turnaround plan. Part of that is betting a return to gas engines for the luxury brand will cure what ails Stuttgart-based Porsche.
Porsche phased out the gas-powered Macan SUV, its top seller, in favor of a pure-EV version this year. High prices and lack of EV demand have hurt sales, particularly in the United States. Leiters said in an interview with thePorsche Macan GTS all-electric compact luxury crossover SUV on display at the AutoSalon press preview on January 09, 2026 in Brussels, Belgium.
"We think it makes sense for the company to pivot its product strategy to better fit the prevailing tastes, but the transition is proving both painful and slow," HSBC analysts led by Michael Tyndall wrote last month. Leiters plans to bring back the combustion-engine Macan to sell alongside the electric version while ruling out a fully electric 911 sports car, something Porsche has said in the past it is unwilling to do.
He told the FT that calling him an EV skeptic is"unfair.
" "We have to recover our petrol strategy, but I'm very positive that once we have the Macan with the petrol engine, we have a very balanced offer for our customers on electric and petrol cars," Leiters said. Michael Leiters, CEO of the Stuttgart-based sports car manufacturer Porsche, recorded at an industry event organized by "Motor Presse Stuttgart" in the New Palace.
HSBC said,"the weaker trajectory of BEV adoption caught the group off-guard .
" Production of the outgoing gas Macan was slated to end in July, and its replacement isn't due until 2028, creating a big gap in timing. HSBC estimates that the gap will cost Porsche around 25,000 units and roughly €500 million in profit in 2027, and it forecasts operating profit will fall 8% that year.
"Future products are cause for optimism, but portfolio pivot is slow and cost savings are not enough to fill the near-term void," the analysts wrote. This year is worse. China deliveries sank 32% in the first half to around 14,500 units — fewer than Porsche delivered in its home market of Germany.
"Porsche down boatloads again in China is a disaster that may not be possible to recover from," Michael Dunne, CEO of China-focused auto consultancy Dunne Insights,HSBC sees it getting worse. Porsche management had guided to"just above 30,000 units" in China this year, but"the current run-rate looks closer to 25k, and falling," the analysts wrote. Cost cuts have cushioned the blow.
Operating profit rose 34% to 1.35 billion euros , and operating margin improved to 7.8% from 5.5%, still well short of the 14.1% Porsche reported in 2024. Leiters also reached a deal to trim 9,000 jobs by 2035.it would take a non-cash impairment of around 6 billion euros on goodwill tied to Porsche, after the sports carmaker updated its long-term planning. Volkswagen still retains a stake in Porsche after Porsche's IPO a few years back.
Investors will hear more on Oct. 7, when Porsche hosts its capital markets day. Until then, HSBC's Tyndall wrote the debate"centres around where/when the earnings trough is. "
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