Porsche Executive Director says Volkswagen’s ‘should play the role’ in the middle of the US tariff threat
In air terms, the Volkswagen Mounting Plant can be seen on April 19, 2024 in Chattanoogi, Tennessee.
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PorscheExecutive Director Oliver Blume said on Wednesday that the company could lean in His partnership with Volkswagen – which has its own American production base – because it incorporates potential tariffs imposed by the White House.
“We have an agreement on industrial cooperation with Volkswagen, and in the end we work so close, so this should play a role” in response to Tariff, Blume told CNBC Annette Weisbach.
The US is the best market of Porsche, but the lack of company editing in the country has left potentially vulnerable to the US trade war with the European Unic. Porsche’s Main plants based in Germany.
While specified separately, The 911 manufacturer is part of the Volkswagen group, along with brands, including Audi, Lamborghini, Bentley, Skoda, Siet and Volkswagen himself. Blume is the CEO and Volkswagen Group and Porsche.
“I hope there will be an agreement between Europe and the US … I’m counting on a fair solution between regions,” Bluma told CNBC.
“On the other hand, we invest in the US in terms of partnerships, services, our own organization, our sellers network. In addition, we hire many, many people in the United States, associated with the Volkswagen group, Volkswagen Group invests more than 15 billion euros in American, and continues, in the plant, congratuture investment in South Carolina.
“This should play a role when it comes to honest agreement there,” he added.
Tariff rollercoaster
The supervision of the latest trade rhetoric, repeating and actions arising from the White House have become a daily challenge for companies in the Autos and beyond industry.
Volkswagen is expected to be strongly clogged with US duties on her North American neighbors through her Montarian plants in Mexico, although this is currently They use from delays Tariffs about their Volkswagen vehicles under a temporary agreement. This is excluded by vehicles from US tariffs until at least 75% of their parts originate from North America.
Will Trump follow his Threat of covering 25% of EU import tariffs It remains to be seen. Tension, though They appeared on Wednesday as a block announced The upcoming tariffs on billions of dollars valuable US goods, in response to American duties to steel and aluminum.
And the auto industry was Stopped on Tuesday Trump’s warning that “it will significantly increase” tariffs to cars coming from Canada to the United States unless the nation rejected “awful, long -lasting tariffs”.
Porsche won’t join China ‘War Price’
Porsche reported on Wednesday about an annual crash of operational profit to 5.6 billion euros (6.1 billion USD) in 2024, which is a fall with 7.28 billion euros in the previous year. Group sales revenue decreased by 1% to € 40.1 billion.
In China, the company blamed the tense market situation, disorders of supply supply and delay in global increase in electricobile for weaker performance because it considered it to be dividend.
He has also announced further reduction in work that will reduce labor reduction to almost 4,000, as it seems to reduce costs in the midst of uncertainty in the market.
Blume told CNBC that it was “intense, challenging but also a successful” year, with a decline in Chinese sales and a slower ranking of electrical mobility in Europe and North America were key questions.
Discussing the latter trend, Blume said that Porsche would continue to invest in innovation, while inviting the industry, communities and politicians to support EV transitions through the development of charging infrastructure.
He also said that the company’s strategy in China, the second largest Porsche market, was supposed to prioritize the value of the quantities, showing the quality of its vehicles and focusing on highlighting in areas such as intelligence in the car.
“In China, we faced the prices for prices, a discount war and we don’t join it,” he said.
Competition of Chinese competitors, especially in the EV market, like ByD, is a challenge for car manufacturers around the world.
New electric cars made by Porsche, in Hong Kong, China.
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