PORSCHE on Tuesday lowered its sales forecast for the year and warned of impairments in production spurred by a supply shortage of aluminum alloys impacting various suppliers.
The automaker said it now expects sales between 39 billion (S$57.2 billion) and 40 billion euros (S$58.6 billion) amid flooding in one of the aluminum suppliers’ production facility. It previously expected revenues between 40 billion and 42 billion euros.
The supply shortage has affected production in all car series that Porsche manufactures and could possibly lead to production shutdowns of one or more vehicles series, it said.
The automaker said it is to be expected that the delays in the production and delivery of vehicles will not be fully compensated for in the further course of the year.
Porsche, majority-owned by Volkswagen, added that it now sees a return on sales between 14 per cent and 15 per cent for the year, down from its previous expectation of 15 per cent to 17 per cent.
The announcement comes at a time when the company faces muted demand in China, driving global deliveries down 7 per cent in the first half of the year.
Porsche is also struggling with low electric vehicle sales this year. It watered down its EV ambitions on Monday, tying it explicitly to customer demand and developments in the electromobility sector. REUTERS
