Porsche's stock price recorded the biggest drop in history, after the luxury car maker lowered its outlook for this year, saying that a shortage of aluminum parts could force it to stop producing some models. The German manufacturer now expects a return on sales of up to 15%, below the high of 17%. The company, which is controlled by Volkswagen, has also lowered its expectations for revenue and the share of electric vehicle sales. The company is struggling to cope with weak demand. Porsche said on Tuesday that the supply shortage was the result of a major European supplier's production facilities flooded, but did not disclose the company's name. The problem has affected the aluminum components used in all of the brand's cars, and production could be affected for a few weeks. Porsche's shares in Frankfurt fell 7.7%, the biggest intraday drop since trading began in September 2022.

Porsche's stock price recorded the biggest drop in history, after the luxury car maker lowered its outlook for this year, saying that a shortage of aluminum parts could force it to stop producing some models. The German manufacturer now expects a return on sales of up to 15%, below the high of 17%. The company, which is controlled by Volkswagen, has also lowered its expectations for revenue and the share of electric vehicle sales. The company is struggling to cope with weak demand. Porsche said on Tuesday that the supply shortage was the result of a major European supplier's production facilities flooded, but did not disclose the company's name. The problem has affected the aluminum components used in all of the brand's cars, and production could be affected for a few weeks. Porsche's shares in Frankfurt fell 7.7%, the biggest intraday drop since trading began in September 2022.