Porsche's strategy is paying off

Shortly after the announcement this week that an additional 5,000 jobs would be cut in Germany by 2035, Porsche released its first-half results and sees its “Value over Volume” strategy as having been validated. Sales fell by 24,000 vehicles to 122,306 cars (down 16.5 percent), and revenue also declined from 18.16 to 17.23 billion euros (-5.1%), but profit rose by one-third to 1.35 billion euros (+33.9%). (aum)