Porsche AG to Exit Germany’s DAX After Less Than Three Years

Porsche AG, the luxury carmaker spun off from Volkswagen AG, is dropping out of Germany’s benchmark stock index after less than three years.

The firm will exit the DAX Index on Sept. 22, STOXX Ltd. said in a statement on Wednesday. The manufacturer of sports cars and high-end SUVs has lowered its outlook three times this year as it grapples with President Donald Trump’s tariffs on European autos, limited demand for electric vehicles and weak sales in China. Its shares have fallen 33% in the past twelve months.