Porsche showed us a preview of a new model this afternoon as it unveiled the Mission S concept in New York. It’s a mid-engined sports car that will slot into the Porsche range above the 911. But this won’t be a limited-run car like the Carrera GT or 918 Spyder—instead it will be a regular production model, part of Porsche’s plan to dig itself out of a financial hole by 2035.
Things have been tough for the German automaker of late. Just three years ago its profit margin was the envy of the industry at 18 percent; last year it collapsed to just 1 percent. It has recovered a little since then, and Porsche’s board has a plan to get back to double-digit margins by 2035, called “Sportwagenschmiede ’35,” which involves prioritizing “value over volume,” with greater individualization for customers—and the associated higher selling prices that come with it.
The ultimate goal is to further strengthen our unique sports car brand–across all model lines and with new, highly desirable models in particularly high-margin segments,” said Porsche Chairman Michael Leiters. Some of that restructuring will involve laying off 9,000 people, part of a larger effort by Volkswagen Group (which owns Porsche) to reduce headcount over the next decade. But new models are planned, too: the electric 718 Boxster/Cayman, a smaller SUV below the Macan due in 2028 with both gasoline and plug-in powertrains, as well as new models in larger, more expensive segments alongside the Cayenne and Panamera.
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