高端车行业遭遇寒冬，保时捷利润暴跌99%
近日，保时捷发布的最新财报显示，2025年前三季度公司经营利润仅为4000万欧元，同比暴跌99%，与去年同期的40.35亿欧元相比，几乎“失去动力”。更令人担忧的是，公司在第三季度录得9.66亿欧元的运营亏损。这一变故不仅影响了保时捷的财务状况，也反映了整个高端车市场的困境。
2025年前三季度，保时捷全球交付量为22.6万辆，同比下降约6%；利润率从去年的20%以上骤降至不足1%。尤其在中国市场，曾经被视为“增长引擎”的中国市场，2025年交付量大跌26%，直接拉低了整体业绩。供应链问题、原材料价格上涨以及电动化转型的巨大投入，成为保时捷当前面临的主要挑战。
高端车市场的寒潮不仅限于保时捷，福布斯预测，2025年全球高端车销量将下降约5%，远高于整体汽车行业的2%降幅。全球经济下行、消费信心低迷和贸易壁垒加剧了这一局面，特别是在美国和欧洲，高端车的销量正承受前所未有的压力。
根据福布斯报告，2026年高端车市场前景不容乐观，预计全球高端车销量将进一步收缩2%-4%。经济疲软、消费者信心低迷以及持续的地缘政治风险，可能导致整个市场难以复苏。
Porsche’s latest financial report reveals a drastic drop in operating profits for the first three quarters of 2025, falling to just €40 million—a 99% year-on-year decrease compared to €4.035 billion in the same period last year. Worse, the company recorded an operating loss of €966 million in Q3 2025. This stark decline not only impacts Porsche’s financial health but also highlights the troubles of the high-end automotive market as a whole.
In the first three quarters of 2025, Porsche’s global deliveries were 226,000 units, down about 6% year-on-year, while its profit margin plummeted from over 20% last year to less than 1%. The China market, once seen as a growth engine, saw deliveries fall by 26%, dragging down overall performance. Supply chain disruptions, rising raw material costs, and the massive investments in electric vehicle transition have created significant pressure on Porsche.
The downturn in the luxury car market is not exclusive to Porsche. Forbes predicts a 5% drop in global high-end car sales in 2025, far worse than the overall 2% decline in the global automotive industry. The global economic slowdown, weakened consumer confidence, and trade barriers are exacerbating this situation, especially in the U.S. and Europe, where luxury car sales are facing unprecedented pressures.According to Forbes, the prospects for the high-end car market in 2026 are bleak, with global sales expected to shrink by 2%-4%. Economic weakness, low consumer confidence, and ongoing geopolitical risks may prevent the market from recovering.