When Porsche’s new CEO Michael Leiters sat down to present the company’s 2025 financial results, the numbers weren’t pretty. Operating profit had cratered from €5.64 billion the previous year to just €413 million, a 92.7% drop that reflects a rough stretch for the brand across several fronts: slower sales in China, the impact of U.S. tariffs, and an EV market that has been far less enthusiastic than the industry had banked on. Global sales fell 10.1% to 279,449 units, and Porsche has already signaled it doesn’t expect 2026 to be much easier. But buried in that same presentation was something that caught the attention of the car world: hints that Porsche is thinking about building a supercar above the 911.
Leiters, who spent time at both Ferrari and McLaren before taking the top job at Porsche, said the company is exploring “the expansion of our product portfolio in order to grow in higher-margin segments.” More specifically, he mentioned models being considered “above our current two-door sports cars,” and said that whatever direction they take, it would happen “regardless of the type of powertrain.” No names, no sketches, no timeline. Just enough to get people talking.
The powertrain comment is worth dwelling on. Back in 2023, Porsche unveiled the Mission X, a fully electric hypercar concept that was supposed to show the world what came after the 918 Spyder. It never made it past the concept stage. The demand for six-figure electric cars weakened, the project stalled, and Porsche moved on. So when Leiters says powertrain type won’t be a constraint, it reads as a deliberate signal that the electric-only path has been abandoned, at least for this particular project.
What the car might actually be is still anyone’s guess. A plush grand tourer sitting above the 911 in price and prestige, think Aston Martin DB12 or Ferrari Amalfi territory, would be one way to go. A proper hypercar that resurrects the 918 Spyder’s spirit would be another, and arguably a more exciting one. The 911 already stretches from the Carrera to the GT3 RS, so a modest step up feels like a missed opportunity. A direct rival to the Lamborghini Revuelto, Ferrari SF90 or Aston Martin Valhalla would make a much louder statement.
As for what might power it, recent moves across Porsche’s lineup offer some indication of the company’s thinking. The new 718 will be available with a combustion engine. The Cayenne continues in both thermal and electric forms. A new SUV below the Macan was confirmed with a combustion powertrain. If a new flagship does happen, a plug-in hybrid, similar in concept to the 918 Spyder’s setup, seems the most likely route.
For now, Porsche isn’t saying much more than Leiters already has. Whether this becomes a real car or stays a boardroom discussion will depend on a lot of factors, not least how the next couple of financial years play out. But the fact that a company under this kind of pressure is talking about building something above the 911, rather than cutting back, says something about where Porsche thinks its future lies.
