, Columnist
Porsche and Volvo Become Victims of Deglobalization
The Swedish and German automakers are suffering as trade borders become less permeable.
Porsche, along with Volvo Car, is suffering as Chinese and US auto markets bifurcate.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Europe’s automakers were huge beneficiaries of globalization, but now the hangover has arrived — and Porsche AG and Volvo Car AB look particularly sickly.
On Monday, Porsche cut its full-year earnings guidance for the second time in as many months; its operating-profit margin is now expected to shrink to as low as 6.5% in 2025, a woeful level for a company that aspires to compete with the far more profitable Ferrari NV.