Porsche expects Macan to boost growth in China

Article by Anita Panait, on September 16, 2013

Deesch Papke, chief executive of Porsche’s Chinese operations, expects its sales growth in China to fast-track in 2014, boosted by the launch of its Macan compact sports utility vehicle as well as its move to expended deeper in the country. Papke told Bloomberg News that the “epicenter of the world” is now in Asia, where China is the obvious powerhouse.

He expressed optimism about the success of Macan, a smaller version of its Cayenne SUV that proved to be very popular in China. It could be noted that Porsche sells more Cayenne in China than in any other country, despite having a tag that is thrice its price in the United States.

Porsche expects its global deliveries to rise to 200,000 as early as 2015, and is counting on demand in China to sustain growth and overtake the US as its largest market by 2014.

Papke said that Porsche is planning to almost double the number of dealerships in China to 100 within a year or two, from the current 56. Porsche posted a 28-percent surge in vehicle deliveries in China to 31,205 units in 2012. The sports carmaker, however, only posted a 17-percent hike in the first eight months of 2013 to 21,092 cars.

Papke told Bloomberg News that Porsche’s sales in China are on pace to surge to 20 percent this year. Zhu Bin, a senior analyst at researcher LMC Automotive, remarked that consumers in China regard Porsche as higher end than BMW, Audi or Mercedes-Benz, giving it a “unique position” in the country.

He added that this position will allow Porsche to keep selling well in China in the next two or three years.

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