Porsche (P911.DE) is betting that buyer appetite and a pivot to more gas-powered vehicles will help its turnaround, but it may not be enough. Current CEO Michael Leiters has been in place at the German automakersince January and is slowly rolling out his turnaround plan. Part of that is betting a return to gas engines for the luxury brand will cure what ails Stuttgart-based Porsche. Shares are down more than 5% this year, and down nearly 50% since its IPO back at the end of 2022. Porsche phased out the gas-powered Macan SUV, its top seller, in favor of a pure-EV version this year. High prices and lack of EV demand have hurt sales, particularly in the United States.
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