Porsche Confirms Brand New ICE-Powered SUV Coming by 2028
Sales of the Volkswagen Group's premium vehicles (Porsche, Audi, Bentley and Lamborghini) are showing a sharp decline. Porsche, which was down 6 percent globally in the first half of 2025, announced in mid-July that it was preparing a new cost-cutting plan, following the announcement this winter that it would cut 15 percent of its workforce by 2029.
Things are so bad that CEO Oliver Blume told employees in an email that “our business model, which has served us well for many decades, no longer works in its current form,” as Bloomberg reported this week.
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Among other things, the company seems to have put a little too much emphasis on electric vehicles. This won't stop it from ending production of the 718 Cayman and 718 Boxster in October to prepare for the launch of their battery-powered successors next year. An electric Cayenne is also on the way to support the new Macan EV.
The latter has been relatively successful so far, especially in Europe. However, the North American market is crucial for Porsche and not renewing the gasoline-powered Macan risks causing further harm.
We previously reported that a new SUV with a combustion engine was under consideration. Well, Blume confirmed during an investor presentation this week that the vehicle will join the lineup “no later than 2028.”
“A more balanced drivetrain portfolio from 2028 onward will enhance market positioning and underpin sustainable long-term growth,” Blume said, stressing the need to put more money into conventionally powered models.
This upcoming SUV, whose name has yet to be confirmed, will be compact-sized like the Macan, but with a very distinctive design. It is likely to share its platform with the new-for-2025 Audi Q5
“We’re developing a compact SUV with both ICE and hybrid versions,” Porsche’s big boss clarified. “We are speeding up the process with very short development times and making a very, very typical Porsche for this segment and also differentiated from the BEV Macan.”