Luxury carmaker Porsche to drop out of Germany’s DAX index as U.S. tariffs bite

Luxury carmaker Porsche

will soon drop out of Germany’s blue-chip DAX

index following a protracted share price slump, as U.S. tariffs take their toll on the European auto industry.

In a Wednesday statement, STOXX Ltd said that Porsche would exit the DAX on Sept. 22 as part of a regular reshuffle and be replaced by online listings company Scout24.

Porsche is poised to become a member of the midcap MDAX index later this month, according to the update from a unit of stock exchange operator Deutsche Boerse.