Mainland China is the world's largest auto market, nearly as large as the US and European markets combined. Global automakers have enjoyed decades of prosperity thanks to a slow-moving home auto industry,

Porsche AG lowered another profitability goal set at the time of its blockbuster listing after the luxury-car maker’s earnings slumped due to tumbling sales in China.Most Read from BloombergTrump DEI

German sportscar manufacturer Porsche saw profits plunge in 2024, as sales in China took a major hit and the carmaker poured money into updating several of its high-end models. Porsche executives warned on Wednesday that the carmaker won't return to hitting key financial targets until the end of the decade.