Porsche seeks to enter 15 new countries by 2020

Article by Anita Panait, on October 17, 2013

Porsche is seeking to commence sales in 15 new countries by 2020, as part of its global growth strategy. Bernhard Maier, Porsche's global sales chief, remarked that the carmaker is covering new markets where it has “not been in yet." According to Maier, Porsche would look to north Africa. Porsche accounted for EUR1.29 billion ($1.75 billion) of Volkswagen Group's operating profit of EUR5.78 billion on the first half of 2013.

It is the third-largest earnings contributor for the group after Audi and the VW brand. Maier added that Porsche is also seeking growth through new model lines, like the Macan compact SUV that the carmaker would use to "better exploit" all markets. Porsche will commence selling the Macan in 2014.

The carmaker expects its sales in China – its second-largest market after the US -- to expand further as it almost doubles its dealership network to around 100 by 2016, from the current 57, Maier remarked.

Deesch Papke, Porsche's China chief executive, remarked that the country is the top buyer of the carmaker’s Cayenne SUV and Panamera sedan, adding that it wants to intensify its focus on sports-car sales, particularly the 911 that it considers as its core.

“We would like to institutionalize the sales of 911 stronger," Papke said. The carmaker posted a 15-percent jump in sales in China in the first nine months of 2013.  Chief Financial Officer Lutz Meschke told Bloomberg in an interview that they expect sales growth of between 10 percent and 15 percent for 2013, and “more in the direction of 15 percent.”

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