Porsche CEO: Current Challenge "Not a Passing Storm"

Luxury car manufacturer Porsche said that its profits and sales in the first half of this year have both significantly declined due to ongoing macroeconomic and geopolitical challenges. Porsche CEO Oliver Blume said, "We still face major challenges globally. This is not a passing storm. The world is undergoing huge changes - especially different from what was expected a few years ago. Some strategic decisions made back then now appear to have a different meaning."