China to become Porsche’s largest market in 2014
December 21, 2011 Category Automotive, Automotive Metals & Minerals
China will overtake the United States as the largest market for Porsche in 2014, said Helmut Broeker, CEO of Porsche (China) Motors. “China has been our second-biggest market, with more than half of sales coming from our SUV model, the Cayenne. We expect it to beat the U.S. to be our No 1 market in 2014, with significant sales growth from the coming, smaller SUV model, the Cajun,” he added. However, he said the company has “not decided” yet whether to locally produce the Cajun model ― which is widely expected to be very popular ― in China because “local production of the vehicle would need at least 25,000 to 50,000 units in annual sales”. In the past four years, SUVs have become the most popular type of car in China’s automobile market and have the fastest sales growth. According to the China Association of Automobile Manufacturers (CAAM), 1.33 million SUVs were sold in the country in 2010, a year-on-year increase of 101.27%, almost four times the sales growth of sedans. According to Lu Mingze, Research Director at Sinotrust International Information & Consulting (Beijing), small SUVs have the greatest potential in the coming years. According to a recent Sinotrust survey, 62.4% of the 974 respondents said they would like to buy a small SUV and 12.4% said they intended to buy a small SUV, compared with only 1.2% who said they are not likely to buy one. Porsche said that its sales will surpass 20,000 units this year, up 60% to 70% from a year earlier ― 55% from the Cayenne, 30% from the four-door coupe Panamera and 15% from the sports car family. “And we expect the number to double to 40,000 units in 2015,” Broeker said. “To prepared for it, we plan to have 100 dealers by the end of 2014.” Porsche will have 39 dealers around China 10 years after becoming established in the local market. It aims to add 20 more dealers by the end of next year. Broeker also said that a Porsche Driving Experience Center will be opened in China, the third country with such a facility, after Germany and the United Kingdom. To be located in Shanghai, it will be the first and only to issue an international race track driver’s license for Chinese sports car fans, the China Daily reports.
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