Tag Archives: Porsche

The Untold Story of Reinhard Schmidt’s Prototype Porsche

On a blustery day along the Dutch North Sea coast, where the gray skies lean heavy over narrow canals and wind howls through the historic town of Hoorn, a flash of Porcelain White brings time to a standstill. It’s not just any classic Porsche making its way down the Korenmarkt. It’s a car with a story so rare, so eccentric, that not even its current owner, Henk Spin, suspected its true identity when he bought it as a humble restoration project more than a decade ago.

Now, ten years and more than 3,000 painstaking hours later, Spin’s 1958 Porsche 356 A Coupé has been brought back to life — and not just restored, but resurrected in its exact original form. Except this wasn’t just any factory 356. This was a factory one-off, commissioned by a mysterious engineer with a fondness for experimentation and a direct line to Porsche: Reinhard Schmidt.

From Rust to Revelation

“When the car arrived from Arizona, it was in worse shape than I had imagined,” recalls Spin, a 65-year-old retired aviation industry manager with a passion for rallying and mechanical precision. “It needed everything — bodywork, mechanicals, electronics, upholstery. But something about it didn’t add up.”

Curiosity turned to obsession. In 2008, Spin made a pilgrimage to Porsche’s archives in Stuttgart, where a cryptic shorthand note on the original Reutter body documents would crack the case: “Reinhard Schmidt, Hannover.”

That name set the wheels of history in motion. Porsche archivists confirmed the discovery: Spin had stumbled upon one of just eight “Schmidt cars”, vehicles built at the factory in the 1950s and ’60s to the specifications of Schmidt — an ATE engineer with ties to both Volkswagen and Porsche. A man who didn’t just push boundaries, but politely asked Porsche to build him a prototype and signed the check.

What Makes a Schmidt Car?

This wasn’t just a Porsche with fancy trim. It was a testbed for innovation. The chassis number 102324 carried with it a laundry list of bespoke modifications that no standard model could dream of. Chief among them: a wireless in-car telephone system, a feat so advanced it warranted coverage in the August 1958 issue of Christophorus magazine. At the time, the system cost nearly half the price of the car itself.

But that was just the start. The dashboard bristled with special instrumentation: a Junghans clock from the 356 Carrera GT rally car, a Carrera speedometer, an electric wiper pump, and toggle switches where push-buttons would normally reside. Schmidt even specified reverse lights, trunk lighting, a rally spotlight, and a toolbox hidden beneath the passenger seat.

Outside, the Porcelain White paintwork gleams against a rare Acella Red interior, with white Nappa leather seats, red window trim, and beige knobs and steering wheel. It’s not a colorway — it’s a statement.

The Restoration Journey

The road back to originality wasn’t smooth. With body panels sourced from Porsche Classic and rare period-correct components hunted down from collectors, Spin worked like a historian with a toolbox. He relied on experts across Europe to restore everything from the engine to the smallest electrical fittings. He even recreated the distinctive 50-centimeter antenna for the Lorenz telephone system.

“It took nearly four years just to gather the body components,” Spin says. “After that, it was like assembling a jigsaw puzzle without the picture on the box.”

His workshop, nestled on the edge of town, is a shrine to Porsche: tools painted in classic Porsche red, walls lined with vintage racing posters, and nearly every issue of Christophorus ever printed. In front of the garage, a Macan and Cayman S keep the 356 company, while a 1972 911 T awaits its turn under Spin’s watchful eye.

The Legacy of Versuchswagen 145

Emblazoned with yellow plates marked “Versuchswagen 145” — Test Car 145 — the finished 356 isn’t just a car, it’s a rolling prototype from Porsche’s forgotten past. Many of its unique features predated their appearance in series production by years, making Schmidt’s vision almost clairvoyant.

“Schmidt’s cars were vehicles from the future,” Spin reflects. “And this one, in particular, was the blueprint for ideas that only became mainstream later.”

Now fully restored, the 356 A Coupé draws admiration everywhere it goes. Yet only a handful of enthusiasts, like Spin, understand just how special it really is.

A Reward Beyond Numbers

To some, restoring a one-off 1950s prototype for a decade might seem like an irrational indulgence. But for Spin, it’s something far deeper. “The joy of experiencing technical perfection — that’s not such a bad way to chase happiness,” he says, echoing the same sentiment expressed in that 1958 Christophorus article.

And perhaps that’s what makes this car so significant. It’s not just a machine. It’s a memory, a mystery solved, and a piece of Porsche history — rescued, revived, and returned to the road by one man’s passion and patience.

Source: Porsche

Porsche Navigates Turbulent Terrain in H1 2025, Eyes Resilience and Long-Term Growth

In the face of economic headwinds and shifting global dynamics, Porsche AG has reported a significant decline in financial performance for the first half of 2025, yet remains steadfast in its strategic recalibration for a more resilient future.

The Stuttgart-based sports car icon posted group sales revenue of €18.16 billion, down from €19.46 billion in the same period last year. Group operating profit fell sharply to €1.01 billion, a stark contrast to the €3.06 billion recorded in H1 2024. This translated to a group operating return on sales of just 5.5%, down from a robust 15.7% year-on-year.

A New Era of Challenges

“We continue to face significant challenges around the world,” said Oliver Blume, Chairman of the Executive Board of Porsche AG. “And this is not a storm that will pass.” Blume cited unexpected global shifts and the need to reevaluate past strategic decisions as drivers behind the company’s ongoing transformation.

According to Blume, three key pressure points have reshaped Porsche’s current business landscape: a sharp decline in premium and luxury car demand in China, US import tariffs that have squeezed margins, and a slower-than-expected global transition to electric mobility. These dynamics have affected not only Porsche’s balance sheet but also its operational approach.

Strategic Recalibration Underway

In response, Porsche has initiated sweeping measures to streamline operations and bolster future profitability. In the first half of 2025 alone, the company incurred special expenses of €200 million related to organizational realignment, and €500 million for battery development and production. Additionally, €400 million was absorbed in customer price protection amid new US import tariffs.

Dr. Jochen Breckner, Executive Board Member for Finance and IT, emphasized the goal: “The aim of our strategic realignment is to strengthen our profitability and resilience.” Talks with employee representatives on a second wave of cost-efficiency measures are set to begin in the second half of the year.

Deliveries and Electrification Progress

Despite economic challenges, Porsche delivered 146,391 vehicles worldwide in the first half of 2025. Electrified models made up 36.1% of total deliveries, with 23.5% fully electric and 12.6% plug-in hybrids. Europe led the charge with an electrification rate of 57%, surpassing the company’s IPO-era targets.

The Macan remained Porsche’s best-selling model, with 45,137 units delivered. The brand also set new delivery records in North America and emerging markets, showing regional resilience amidst global uncertainty.

However, automotive net cashflow fell to €394 million, compared to €1.12 billion last year, with a cashflow margin of 2.4%, down from 6.3%.

Innovation and Recognition

Porsche’s push into advanced battery tech saw a major milestone with its subsidiary, V4Smart GmbH, ramping up its second production line in Nördlingen, Germany. This, alongside the Ellwangen site, forms Europe’s only active high-performance round cell production network.

Meanwhile, the brand continued to shine in quality and motorsport. Porsche ranked first in the U.S. J.D. Power APEAL study for customer satisfaction and secured a double championship victory at the Formula E season finale in London. The company also claimed another class win at Le Mans and a dramatic second place overall with the Porsche 963.

Revised Outlook, Grounded Optimism

Following new EU-U.S. agreements on import tariffs, Porsche has revised its 2025 outlook. While the company expects import duties of 15% starting August 1, it plans countermeasures, including selective price adjustments to absorb the financial impact.

Despite the rocky first half, Porsche maintains its forecast of €37–38 billion in annual group revenue. Profitability expectations range from a 5–7% group return on sales and a 3–5% automotive net cashflow margin, depending on the effectiveness of mitigation strategies and market recovery.

“Our completely revamped product range is very well received by our customers,” Blume added. “We expect that we will begin to see positive economic momentum again from 2026 onwards.”

Source: Porsche

Porsche at a Crossroads: EV Struggles, Falling Sales, and a Shifting Strategy

Porsche, the iconic German marque synonymous with performance and precision, is facing one of the most turbulent periods in its modern history. Once riding high on the global boom in luxury vehicles and early electric vehicle (EV) enthusiasm, the company now finds itself grappling with sliding sales, mounting pressure in China, and a growing sense of strategic uncertainty.

After a modest 3% drop in global sales last year—before U.S. tariffs even took effect—Porsche’s momentum has continued to falter. Shipments fell another 6% in the first half of 2025, prompting the company to announce a wave of cost-cutting measures, including the elimination of 1,900 jobs by 2029.

In a candid internal email obtained by Bloomberg, CEO Oliver Blume acknowledged the company’s business model “no longer works in its current form,” citing weak demand in China and increased operating costs tied to U.S. tariffs. “All of this is hitting us hard—harder than many other car manufacturers,” Blume admitted, marking a rare moment of corporate humility from Zuffenhausen.

End of the Line for Icons

By year’s end, Porsche will say goodbye to two of its most beloved combustion-engine models. The current-generation Boxster and Cayman will cease production in October, with electric successors not expected until 2026. In their place, Porsche will debut a new electric SUV, but expectations remain tempered, particularly given the shaky performance of the Taycan—the brand’s first EV.

The Taycan, once hailed as a Tesla-fighter, saw its sales plunge by 49% in 2024 and fall another 6% so far in 2025. In contrast, the new Macan EV has enjoyed a promising start, but it’s too early to declare it a savior for the brand.

America Up, China Down

If there’s a bright spot for Porsche, it’s North America. The region posted a modest 1% increase in deliveries last year, followed by a more robust 10% gain in the first half of 2025. However, even this market may not be immune to Porsche’s pricing strategy: several models have seen price hikes of up to 3.6%. That may not faze 911 buyers, but could turn away potential customers of more mainstream offerings like the Macan and Cayenne.

Meanwhile, the situation in China is dire. Porsche’s largest overseas market is in freefall, with a 28% drop in 2024 and a matching 28% decline through June 2025. Blume and his team blame “challenging market conditions” and intense competition from domestic brands that continue to churn out high-tech, lower-cost EVs at a relentless pace.

Strategic Retrenchment and Recalibration

The ripple effects of Porsche’s slump are being felt across its product roadmap. The once-vaunted goal of making 80% of its lineup fully electric by 2030 has now been abandoned. Blume conceded the target is “not realistic,” as the company reconsiders offering combustion-engine variants of vehicles originally designed to be EV-only.

Among those in flux is the brand’s upcoming three-row SUV, which still lacks a firm launch date, likely due to waning EV demand. There’s also talk of a new entry-level gasoline SUV positioned below the Cayenne, but it’s not expected before 2030—far too late to offer immediate relief.

Where Does Porsche Go From Here?

Porsche is not the only automaker caught in the volatility of the global EV transition, but the stakes are particularly high for a brand that has built its reputation on engineering excellence and aspirational performance. As legacy ICE models are retired and the EV lineup struggles to find consistent traction, Porsche must navigate a path forward that balances heritage, profitability, and a rapidly shifting market landscape.

The road ahead is steep. Whether Porsche can maintain its identity while adapting to new market demands remains to be seen. One thing is clear: the old playbook no longer applies.

Source: Bloomberg