Porsche's share price dropped over 7% after the company reduced its profit outlook and delayed the launch of its electric vehicle range. This marks the fourth time this year that Porsche has lowered its guidance, forecasting a profit margin drop from 5-7% to 2%. The firm will initially offer its new SUV series as combustion engine and hybrid models due to market conditions. Volkswagen, Porsche's largest shareholder, also saw a similar decline in shares. The automotive industry in Europe faces challenges such as weak EV demand and economic slowdowns, leading to job cuts at Porsche. Teljes cikk (Euronews.com)