Business · 1 hour ago
Porsche bets on fewer, pricier cars as 9,000 jobs go
Wikimedia Commons
Porsche will raise the average price of its top models by about 20% under a new strategy unveiled at its Weissach development centre. The carmaker plans to cut 9,000 jobs, shrink management posts by 40% and drop a fifth of model variants. Boss Michael Leiters says cost cutting comes first, after China sales slumped and its margins collapsed last year. Shares jumped in Frankfurt trading.
Reported by CNBC-TV18 · How we write briefs