Wednesday, April 2, 2025

Interview with Justin Husman, aka the Husman Bros Youtube Channel - check it!

 It's been a while since I have posted up on My Life With Porsches blog. But that is about to change. Welcome to the new My Life With Porsches blog with more new content. Let's start off with a bang! I am interviewed by my friend (and insurance agent) Justin Husman on their Husman Bros Youtube channel. I get to plug my action adventure novels - The Driver Series. Check them out and oh...check out the video too. 


https://youtu.be/L6NNRTHw6mM?si=FPnTKiTp67GGfwgu 




Monday, March 31, 2025

Porsche AG records robust results in a challenging environment

 Porsche AG ended the 2024 financial year with a robust result in a challenging environment. The sports car manufacturer marked record sales in four out of five regions of the world, as well as strong automotive net cashflow, which almost reached the record levels of 2023.  

 

 

  • Robust 2024 financial year: Group sales revenue of 40.1 billion euros, Group Operating profit of 5.6 billion euros, Group operating return on sales of 14.1 per cent.
  • Strong net cashflow almost reaches record levels of 2023.
  • Proposed dividend amount the same as previous year.
  • Negative effects from market developments in China, the slower-than-expected ramp-up of e-mobility, and disruptions in the supplier network partially offset.
  • Historic sales records in four out of five world regions.
  • Corporate and product strategy further developed: comprehensive cost and recalibration program initiated, additional investments in combustion engines, plug-in hybrids and battery activities.
  • Porsche continues to focus on a mix of drivetrains with combustion-engined, hybrid and all-electric sports cars.
  • CEO Dr Oliver Blume: “We have renewed five out of six models and extensively refreshed our product portfolio. This has laid the foundation for our success in the coming years, with the clear goal of exciting our customers with our iconic sports cars.”
  • CFO Dr Jochen Breckner: “Porsche has proven in 2024 that we operate highly profitably even in challenging times. In the long term, we remain committed to our fundamental goal of a Group operating return on sales of more than 20 per cent. In the medium term, we are aiming for 15 to 17 per cent due to the persistently challenging environment. We are consciously setting out on a comprehensive recalibration and sustainably strengthening Porsche for the future.

 

Stuttgart. With the 911, Cayenne, Panamera, Taycan, and the electric Macan, Porsche renewed five out of its six model lines and successfully introduced them in the markets. At the same time, the company has resolutely adapted its product and corporate planning to the changed circumstances. The sports car manufacturer continues to rely on a mix of drivetrains. Its customers will still be able to choose between combustion engines, plug-in hybrids and all-electric drivetrains in every vehicle segment well into the 2030s.

 

“We have renewed five out of six model lines and extensively refreshed our product portfolio. This has laid the foundation for our success in the coming years, with the clear goal of exciting our customers with our iconic sports cars,” says CEO Dr Oliver Blume. “In view of the changed circumstances, we have adjusted our product strategy in all segments. And we further developed our proven and successful Porsche strategy over the course of last year to make the company even more flexible, robust and high-performing.”

 

911: a sports car icon with new top derivatives

Porsche will offer further highly emotive derivatives, especially of the 911. These include high-yield and exciting limited-edition models. The sports car icon will revive the style of the 1970s via a heritage limited-edition model from Porsche Exclusive Manufaktur – the third of four collector's cars from the Heritage Design Strategy. In the medium term, the 911 family will also welcome an additional flagship model, which will raise the bar even further in the sports car segment.

 

In order to make the Macan better in every way, Porsche decided early on to fully electrify the model line. The all-electric Macan sets new standards in terms of performance, driving experience and design and has been very well received by customers. Once the combustion-engined models of the same name have been phased out, the Macan will be sold exclusively as an all-electric model, worldwide. At the same time, Porsche is continuously monitoring market development and customer demand. If necessary, the company looks ahead and adapts its product strategy. For example, the sports car manufacturer is currently evaluating an independent model line in the SUV segment with combustion and hybrid powertrains. It would have a new design and Porsche's characteristic profile, and would benefit from synergies. The model could be launched towards the end of the decade.

 

At Porsche, all three drive technologies symbolize emotion, performance and efficiency. An example of this is the Cayenne. In 2023, the current generation (a mix of combustion-engined and plug-in hybrid models) received one of the most extensive product upgrades in Porsche's history and it will be further developed in the future with considerable engineering effort. The sales of this model line were at an all-time high in 2024. At the same time, the fourth generation of the bestseller – a completely newly developed and designed electric model – is intended to significantly support the ramp-up of electric mobility at Porsche. The combustion-engined and electric models will be available in parallel well into the 2030s. Following on from the all-electric Cayenne, Porsche will introduce all-electric sports cars in the 718 segment.

 

The sports car manufacturer is also further expanding the possibilities for customization. There are already more than 1,000 Porsche Exclusive Manufaktur options available, while the Sonderwunsch program provides the scope for almost anything that a customer could wish for – from exclusive details through to factory one-offs. Over the past five years, the average revenue per vehicle with Exclusive Manufaktur options has doubled. To enable even more individual customer dreams to be fulfilled, Exclusive Manufaktur’s capacity is to be significantly expanded.

 

Reorganization and comprehensive program for recalibration

At the end of February, Porsche AG initiated a long-term change in its Executive Board. Dr Jochen Breckner took over responsibility for Finance and IT and Matthias Becker for Sales and Marketing. They succeeded Lutz Meschke and Detlev von Platen, who have left the company after more than a decade in their leadership posts. Porsche AG has launched a comprehensive program to rescale the company. By 2029, the number of jobs is to be reduced by around 1,900 positions. Porsche is leveraging demographic developments, natural turnover and a restrictive hiring policy to achieve this. In addition, socially acceptable measures are being implemented on a voluntary basis, including a special program for partial retirement and, in individual cases, termination agreements with severance payments. Furthermore, the company is reducing the workforce by another 2,000 jobs through the expiration of fixed-term employment contracts. In addition to these immediate measures, management and the Works Council are negotiating an additional structural package in the second half of the year. This will also make Porsche even more efficient in the medium and long term.

 

Porsche is also pushing ahead with its Road to 20 performance program. In 2024 this played a major role in partially offsetting the negative effects on results from a challenging environment. In the future, it will be the leading instrument on the way to achieving a fundamental long-term ambition of a Group operating return on sales of more than 20 per cent. “In 2025, we will once again intensify Road to 20 with a focus on the cost structure,” says Dr Breckner, Member of the Executive Board for Finance and IT.

 

Robust 2024 financial year

Earnings in the 2024 financial year were mainly impacted by the challenging economic environment and the comprehensive renewal of the product portfolio. The tense market situation in China, the delayed global ramp-up of electromobility and disruptions in the supplier network had an impact on earnings and return on sales. Porsche management has partially mitigated the effects of these thanks to a number of countermeasures.

 

Group sales revenue was 40.1 billion euros, a single percentage point below the previous year's figure (40.5 billion euros). Porsche thereby almost entirely compensated for the decline in sales figures. This was achieved by a higher proportion of customizations and improved price positioning of the newly launched products. Group operating profit decreased to 5.6 billion euros (previous year: 7.3 billion euros). The group operating return on sales amounted to 14.1 per cent (previous year: 18.0 per cent). In 2024, Porsche has proven that we are highly profitable even in challenging times and that we are financially robust,” says Dr Breckner. Automotive net cashflow amounted to 3.7 billion euros, almost on a par with 2023’s record year (4.0 billion euros). This figure includes cash outflows of 250 million euros in connection with pension plans. The automotive net cashflow margin was 10.2 per cent (previous year: 10.6 per cent), which was above the forecasts.

 

Porsche was also robust in terms of deliveries in the 2024 financial year, with 310,718 cars going out to customers. In a challenging environment, Porsche recorded sales records in four out of five regions of the world – in Europe, Germany, North America and the Overseas and Emerging markets. Nevertheless, the total number decreased slightly compared to the previous year (320,221 vehicles). This was mainly due to the continuing market challenges in China. The bestseller was the Cayenne with 102,889 examples being delivered, ahead of the Macan (82,795) and the 911 (50,941). In the 2024 financial year, 27 per cent of the new vehicles delivered were electrified – i.e. fully electric or plug-in hybrid. This share is predicted to significantly increase over the next few years as a result of the Porsche product portfolio. The expectation for 2025 is in a range between 33 and 35 per cent electrified vehicles, including 20 to 22 per cent fully electric.

 

In motorsport, Porsche has seldom seen more success than it did in 2024, when it won the FIA World Endurance Championship (WEC) driver’s title and all classes in the American IMSA racing series. In Formula E, works driver Pascal Wehrlein became the drivers' world champion.

 

Dividend remains at previous year's level

In the 2024 financial year, earnings per ordinary share amounted to 3.94 euros and earnings per preferred share to 3.95 euros. The Executive Board and Supervisory Board will propose to the Annual General Meeting of Porsche AG a dividend payment of 2.1 billion euros. As in the previous year, this corresponds to 2.30 euros per ordinary share and 2.31 euros per preference share.

 

2025: start of comprehensive recalibration

In 2025, in total, Porsche will invest an additional 800 million euros in rescaling and in its product portfolio and software and battery activities. In doing so, the company intends to increase its profitability and resilience in the short and medium term. “The extensive rescaling of the company as well as the investments we will be making will have a negative impact on the result for the 2025 financial year,” says Dr Breckner. “We are consciously setting out on a comprehensive recalibration and sustainably strengthening Porsche for the future." In its forecast for 2025, Porsche is expecting market conditions to remain very challenging and for competition in China to intensify. Geopolitical uncertainties are also expected. The current forecast for 2025 takes into account the current framework conditions. Further potential import restrictions and tariffs have not been factored in. 

 

For the 2025 financial year, Porsche AG expects a Group operating return on sales in a range of 10 to 12 per cent based on the aforementioned assumptions. This is below the figure for the 2024 financial year. Besides the additional investments that are planned, the main reasons for this include reduced vehicle sales and an unchanged high cost level in the value chain. In addition, very high depreciation will remain due to the extensive investments of recent years. This forecast includes assumed sales revenues in the region of around 39 to 40 billion euros. Dr Jochen Breckner: “In the long term, we remain committed to our fundamental ambition of a Group operating return on sales of more than 20 per cent. In the medium term, we are aiming for 15 to 17 per cent due to the persistently challenging environment.”

Porsche AG Group

FY 2024

FY 2023

Change

Turnover

€40.08 billion

€40.53 billion

-1.1%

Operating profit

€5.64 billion

€7.28 billion

-22.6%

Operating return on sales

14.1%

18.0%

 

Deliveries

310,718

320,221

-3.0%

 

 

 

 

 

 

 

About Porsche Cars North America, Inc. | One Porsche Drive, Atlanta, GA 30354 USA

Established in 1984, Porsche Cars North America, Inc. (PCNA) is the exclusive U.S. importer of the Porsche 911718 Boxster718 CaymanMacanCayennePanamera and TaycanThe Porsche Car Configurator can be used by anyone to customize and pre-order any vehicle in that lineup at any time. Headquartered in Atlanta, Georgia, since 1998, PCNA is home to the first Porsche Experience Center in North America, which features two module-based 1.6 mile driver development tracks, a business center and Restaurant 356. The campus is also home to the U.S. headquarters of Porsche Classic. The company operates a second Porsche Experience Center near Los Angeles. That complex features a driver development track with eight educational modules totaling 4.1 miles, a business center, Restaurant 917 and the headquarters of Porsche Motorsport North America. PCNA supports 203 independently owned and operated Porsche Centers in the U.S., four Porsche studios and five satellite stores in the U.S., including supplying parts, service, marketing, and training. They, in turn, work to provide Porsche customers with a best-in-class experience that is in keeping with the Porsche brand's 75-year history of leadership in the advancement of vehicle performance, safety, and efficiency. PCNA is an indirect wholly-owned subsidiary of Porsche AG, which is headquartered in Stuttgart, Germany.


Thursday, July 12, 2018

Take a look at my new column over on Flussig.com

Well, the times, they are a changing. I had to hang up my racing helmet recently. Read up on how this came to pass. And as a bonus I give you some insight into my new automotive passion. Plus the good folks at Flussig would love to have you visit and check out some great Porsche stores and photos. Oh right, the link - http://flussigmagazine.com/wort-der-woche/the-changing-of-the-guard


Wednesday, April 4, 2018

Musings from the left seat - Over at www.thedriver-series.com

Thomas Wolfe says you can't go home again. And with cars it is pretty much the same thing. Read it at https://www.thedriver-series.com/the-driverseries-blog/2018/4/4/musings-from-the-left-seat

Oh and BUY my books. You love car and racing and fighting and guns and stuff right? So what are you waiting for? BUY my books. Book III is published, in a stealthy way. Just waiting for the cover to be finalized, but if you insist, here is the link - https://www.amazon.com/Driver-Book-III-Turmoil-ebook/dp/B07B6JBKJ1/ref=sr_1_1?ie=UTF8&qid=1522900114&sr=8-1&keywords=The+Driver+Book+III+Turmoil

Wednesday, March 21, 2018

Over at www.thedriver-series.com a new blog post - Check it! My track car stories continue

I start my track career with a - wait for it - a 1976 Porsche 930 Turbo Carrera. Probably not the ideal first track car, but what the hell. As in what a hell of a track car. Read the blog and share my fear of Turbo induced oversteer. https://www.thedriver-series.com/the-driverseries-blog/


Wednesday, February 28, 2018

Saturday, February 17, 2018

Selling my highly tuned track car - 1999 Miata MX-5 for $15,000 obo

1999 Mazda Miata MX-5 Track Car: $12,995


Highly developed purpose build track car. Note, this car still retains its road legal safety equipment and has current inspection and registration in Texas (thru 1/19). This Miata is the infamous “Beast” and was the long-term Miata NB development platform for Track Dog Racing (TDR). It has a brand new (installed Jan/2018) race tuned motor and is capable of developing more than 350HP at the crank, currently tuned at 325HP / 270RWHP for long term track duty. Clear Texas title.

Motor Rebuild:
·      Custom TDR Miata race setup with long block engine consisting of decking block and head, bearings, polished crank, block bored and honed.
·      Forged rods
·      Forged oversize Supertech pistons 9 to 1 compression ratio, new rings, bearings, seals
·      Manley forged rods,
·      Rebuilt oil pump with increased pressure, new seal and gaskets.
·      Head includes 3 angle cut, new valve seals, decked head, Cometic head gasket, seals and new valve cover gasket., timing belt and components
·      New valve seals. New oil seals, spark plugs, oil and filter, water seals,
·      Gates Blue timing belt.
·      M-Tuned Coolant Reroute Kit (94-05) 1.8.
·      F1 Chromoly Flywheel 11.7 lbs, 1.8 Miata.
·      MegaSquirt PNP Gen 2 for 99-00 Miata MSPNP2-MM9900.
·      TDR Custom injectors for Miata only, 700 cc, plug and play.
·      Track Dog Racing Aluminum 6-Rib Crank Pulley - 140 mm.
·      Genuine Mazda 90-05 Miata Belly Pan Undertray (Except MAZDASPEED).
·      Genuine MAZDASPEED 90-05 Miata Motor Mounts.

Forced Induction/Cooling/Exhaust:
·      TDR BRP Super Charger with independent 6 rib auto tensioner,
·      TDR Intercooler with SS pipes,
·      Running 13psi, set for 7500 RPM redline,
·      TDR custom aluminum radiator w/ dual cooling fans,
·      Additional oil cooler w/ oil filter relocation kit (inside left front fender well),
·      Custom TDR oil catch can.
·      JR SS header, RoaderSport SS Mid pipe, Racing Beat dual exhaust.

Suspension / Chassis:
·      TIEN Flex Z adjustable coil over kit,
·      Racing Beat Front / Rear adjustable sway bars,
·      AWR adjustable sway bar mounts
·      Flying Miata Butterfly brace,
·      TDR adjustable front strut brace,
·      Super Pro adjustable bushings

Brakes:
·      Willwood Big Brake Kit front,
·      New DBA rotors,
·      Hawk DTC-60 brake pads,
·      Stainless Steel Brake Lines,
·      Custom front brake air ducts,
·      Adjustable brake bias valve,
·      Motul RBS-600 brake fluid.

Interior:
·      Ultra Shield TDR Rally Sport Seats,
·      5-pt Ultra Shield Cam lock harnesses,
·      Hard Dog Hard Core M-2 Roll bar with bolt in Harness bar,
·      I/O Port seat back braces (trimmed so that convertible top can be lowered).
·      TDR custom gauge cluster (with switchable read out),
·      Pioneer Head unit (original radio included).
·      Hidden battery cut off switch in trunk.
Exterior:
·      TDR Radical front splitter,
·      TDR rear spoiler lip,
·      949 Racing 6UL 15” x 8” wide wheels,
·      Hankook Ventus RS3.2 tires,
·      Spraco hood pins,
·      TDR hood struts,
·      Dual front tow hooks,

Extras / notes:
·      2 x extra 949 Racing 6UL 15” x 8” wheels,
·      set of stock fuel injectors  
·      instructions to revert this car to a base line tune for additional tuning options.
·      AC and cruise control are currently not installed, but come with parts to reinstall.


This is a highly capable track car. On short tracks like MSR, ECR and Cresson, you can hang with big boys like Porsche GT3’s and GT4’s. I have personally seen this car pass a Lamborghini Gallardo twice in the same session. OK, the owner of TDR was driving and maybe the Lambo driver was not the fastest driver, but I remember he was very upset he got passed – twice – by a Miata within just a handful of laps. It was greatness!

Priced at $12,995 Or best offer (obo)

Contact Rob Turner @ pcarfan@gmail.com

Car is located in North DFW, TX. Brand new 20’ enclosed trailer with only 1100 miles on it is also available separately for $5,200. If you are interested, I can send pix and details.