Thursday, November 6, 2008

China has become Porsche's third largest market

SHANGHAI : November 5, 2008 - China has become Porsche's third largest market after the United States and Germany, with more than 7,600 units of the luxury German auto brand sold in the financial year 2008 (Aug. 2007-Sept. 2008), Porsche China general manager Helmut Broeker told China Business News recently.

The Chinese market has accounted for 7.5% of the deluxe carmaker's global sales, surpassing the entire Latin American market. "The raised sales tax on cars big-engine cars (since September 1) only has a mild impact on us," Broeker said. "From another perspective, the tax hikes will label us as a luxury brand and rich people will not be kept buying luxury cars just by the hike."

Porsche sold less than 400 units in 2004, three years after its entry to the Chinese market. But the sales of Porsche vehicles have seen rapid growth in the past few years, increasing from 386 units in 2004 to 2,305 units in 2006, more than 4,000 units in 2007, and over 7,600 units in 2008.

By using a lot of technological innovations, Porsche has launched the all-new 911 series model, which is expected to boost the sales and growth of Porsche in the Chinese market. The previous Porsche 911 series sold more than 500 units in China in the 2008 financial year.

Porsche China has its China head office based in Shanghai. The company started operations in 2001 to support Porsche partners in China. There are currently about 20 appointed Porsche centers in major Chinese cities, and the number will increase to 30 by the end of this year.

[Source : Gasgoo]


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