Porsche set to drop out of Germany's DAX index as tariffs bite

(Sharecast News) - Luxury German carmaker Porsche is set to fall out of the country's main DAX index as it reels from the impact of US tariffs and a share price slump.

Regional index operator STOXX Ltd said Porsche would leave the DAX on September 22 as part of a regular reshuffle and be replaced by online listings company Scout24.

The company will join the midcap MDAX index later this month. Trump's tariff war on the European auto sector has pummelled manufacturers, with Porsche lowering its outlook in recent months, citing the impact of the levies, weak demand from China and a slower-than-expected transition to electric models.

Porsche chief executive Oliver Blume told local media the company aimed to return to the DAX "as soon as possible".

Reporting by Frank Prenesti for Sharecast.com