German sports carmaker Porsche said it has significantly reduced its exposure to China as operating profit rebounded in the first nine months of the year despite falling revenue and vehicle deliveries.
The Volkswagen-owned company published its third-quarter earnings on Tuesday, announcing that operating profit was 1.74 billion euros ($1.94 billion) in the first nine months of 2026, compared with 40 million euros at the same time last year, when it booked around 2.7 billion euros in strategic restructuring costs.
Meanwhile, sales revenue fell 5.9% to 25.28 billion euros, while deliveries continued to decline, down 16% to 178,532. North America remained Porsche's largest sales region by volume.
China has historically been an important market for German luxury automakers, but they have struggled with growing competition from domestic brands, particularly in electric vehicles.
Porsche's China sales have fallen sharply in recent years amid intensifying competition from brands such as BYD, Geely and Xiaomi.