Porsche plans new supercar and more expensive models after profit plunge

German luxury carmaker Porsche AG just revealed a massive strategy shift after profits took a brutal dive. Porsche CEO Michael Leiters announced a new plan in Stuttgart, Germany, to rescue the brand after profits plummeted from the equivalent of $5.9 billion in 2024 to just $101 million for 2025. Porsche had invested heavily in electric vehicles only to find buyers were not ready, and reversing that course cost a fortune. Tariffs in the United States and fierce competition in China also crushed the bottom line. Now, Leiters is steering the company back toward high-margin sports cars and exclusive one-off models under a new plan dubbed Sportwagenschmiede ’35. Most exciting for car fans, Porsche is developing a new mid-engine super-sports-car architecture positioned above the iconic 911 sports car. A concept car called Mission S will debut on October 15 to preview this beast. Porsche also confirmed that the long-awaited electric successor to the 718 two-seaters will arrive for sale in the United States late next year as an EV only. Meanwhile, a new gas-powered and plug-in hybrid compact SUV built alongside Audi will hit the market in 2028 to run alongside the electric Macan. Porsche wants to lower its break-even point to below 200,000 units by raising average selling prices on top models by 20 percent. Here is what this means for you. If you are shopping for a high-end luxury vehicle, expect dealers to push even more exclusive customization programs like Exclusive Manufaktur and Sonderwunsch where you can build bespoke custom cars. Porsche plans to make ultra-exclusive GT products cost more than 200 percent higher than a base 911 sports car. Thankfully, at least one thing remains sacred. Leiters insisted that the legendary 911 will never go electric. At least your midlife crisis will still sound like a roaring engine.