Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
In an aerial view, a Volkswagen assembly plant is observed on April 19, 2024 in Chattanogo, Tennessee.
Elijah Noubelage | Getty Images News | Getty images
PorscheThe CEO of ‘S Oliver Blume, said Wednesday that the company could bow Your association with Volkswagen – That has its own American manufacturing base, since it prepares for possible tariffs imposed by the White House.
“We have an industrial cooperation agreement together with Volkswagen, and in the end, we are working closely together, so this should play a role” in responding to the rates, Blume told Annette Weisbach of CNBC.
The United States is Porsche’s main market, but the lack of company’s assembly operations has left it potentially vulnerable to a commercial war of the United States with the European Union. Porsche’s Main plants They have their headquarters in Germany.
While listed separately, The 911 manufacturer is part of the Volkswagen Group, along with brands such as Audi, Lamborghini, Bentley, Skoda, Seat and Volkswagen. Blume is Executive Director of Volkswagen Group and Porsche.
“My hope is that there will be an agreement between Europe and the United States … I am having a fair solution between the regions,” Blume told CNBC.
“On the other side, we are investing heavily in the us in therms of partnerships, Services, Our Own Organization, Our Dealer Network. We are are employing many, MANY PEY PEOPLE IN THE USESIDS THIS, BEING CONNECTED TO THE VOLKSWAGEN GOUP, VOLKSWAGEN GROUP Billion Euro in the Us, “I have continued, pointing out the conglomerate’s assembly plant in chattanooga, tennessee, and investment In South Carolina.
“This should play a role when it comes to an agreement right there,” he added.
roller coaster
The monitoring of the last commercial rhetoric, the reimbursements and the actions derived from the White House have become a daily challenge for companies in the car industry and beyond.
Volkswagen is also expected to be beaten by US duties in its residents of North America through its assembly plants in Mexico, although it is currently benefit from a delay to tariffs on their vehicles of the Volkswagen brand under a temporary agreement. This exempts vehicles from American tariffs up to at least 75% of their parts originate in North America.
If Trump will continue in his Blodies 25% of tariffs on EU imports It remains to be seen. Tensions however Ratcheted Wednesday as the block announced Next tariffs on billions of dollars in American products, in response to American tariffs on steel and aluminum.
The automotive industry was also shaken on Tuesday Due to Trump’s warning that “tariffs in cars that come from Canada to the United States unless the nation delayed” atrocious and long time “tariffs” would increase substantially.
Porsche will not join China ‘Price War’
Porsche on Wednesday reported an annual drop in operational profits to 5.6 billion euros ($ 6.1 billion) in 2024, below 7.28 billion euros in the previous year. Group sales revenues fell 1% to 40.1 billion euros.
The company blamed a tense market situation in China, the interruptions of supply chains and a delay in the global increase in electromobilility for the weakest performance, since it maintained its stable dividend.
He also announced more employment cuts that will bring their reduction in the workforce to almost 4,000, since it seems to reduce costs amid the uncertainty of the market.
Blume told CNBC that it was an “intense, challenging, but also successful” year, with a fall in China’s sales and a slower increase in electric mobility in Europe and North America continued to be key issues.
When discussing the last trend, Blume said Porsche would continue to invest in innovation, while asking the industry, communities and politicians to support the transition of EV through the development of load infrastructure.
He also said that the company’s strategy in China, the second largest market in Porsche, was to prioritize the value over volumes, showing the quality of its vehicles and focus on standing out in areas such as intelligence in the car.
“In China, we have faced a price war, a discount war, and we are not joining this,” he said.
The competition of Chinese competitors, particularly in the EV market of the tastes of Byd, is presenting a challenge for car manufacturers around the world.
New electric cars made by Porsche, in Hong Kong, China.
UCG | Universal Image Group | Getty images
