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Porsche upbeat on sports car sales
By Shao Shijie |
00:00 UTC+8 April 23, 2012
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PORSCHE targets to have 15 percent of its sales in China generated from the sports car business over the next four years, boosted by the country's improved infrastructure and consumers' diversified lifestyles, a company executive said.
Helmut Broeker, chief executive officer of Porsche China, said China's sports car industry continues to grow as the overall auto market turns mature and investment in improving road conditions increases.
"We are also seeing that more Chinese are increasingly displaying the same lifestyle and tastes as their counterparts in other countries," said Broeker, "Though the total sales percentage of sports car in China is still very small, the market is growing extremely fast in the absolute sales figure."
Growth of China's luxury car segment has been quicker than the industry average over the past few years as expanding personal wealth spurs demand. Chinese mainland is home to 2.7 million high net-worth individuals, each owning more than 6 million yuan (US$952,381) worth of personal assets and three cars, according to the Chinese Luxury Consumer White Paper 2012.
However, market competition is also intensifying with more players even though luxury vehicle sales may end its breathtaking growth amid China's economy slowdown.
Last year, China became the second largest market for Porsche with sales jumping 65 percent to reach 24,340 models.
Most of the sales came from Cayenne sports-utility vehicles and the premium sedan Panamera. Sports cars including the Porsche 911, Cayman and Boxster, accounted for 14 percent.
Broeker said the newly launched new generation of Porsche 911, which stands for the core of its sports car business, would help strengthen Porsche's market positioning as a sports car maker though the model's sales potential may not be fully realized due to capacity restraints in its factory in Zuffenhausen, Germany.
Porsche will launch an updated version of its entry-level sports car Porsche Boxster in China this September, according to Broeker.
Broeker expects the new Porsche 911 would also provide an impetus for China to replace the United Kingdom as the third largest market for the model within one or two years. China is also the No.2 market for Boxster and Cayman.
In order to narrow the gap between China and Western countries in sports car culture, Porsche will also launch intensive road shows and test drive events in China and may integrate Chinese consumers' needs into its vehicle development process, Broeker said.
Helmut Broeker, chief executive officer of Porsche China, said China's sports car industry continues to grow as the overall auto market turns mature and investment in improving road conditions increases.
"We are also seeing that more Chinese are increasingly displaying the same lifestyle and tastes as their counterparts in other countries," said Broeker, "Though the total sales percentage of sports car in China is still very small, the market is growing extremely fast in the absolute sales figure."
Growth of China's luxury car segment has been quicker than the industry average over the past few years as expanding personal wealth spurs demand. Chinese mainland is home to 2.7 million high net-worth individuals, each owning more than 6 million yuan (US$952,381) worth of personal assets and three cars, according to the Chinese Luxury Consumer White Paper 2012.
However, market competition is also intensifying with more players even though luxury vehicle sales may end its breathtaking growth amid China's economy slowdown.
Last year, China became the second largest market for Porsche with sales jumping 65 percent to reach 24,340 models.
Most of the sales came from Cayenne sports-utility vehicles and the premium sedan Panamera. Sports cars including the Porsche 911, Cayman and Boxster, accounted for 14 percent.
Broeker said the newly launched new generation of Porsche 911, which stands for the core of its sports car business, would help strengthen Porsche's market positioning as a sports car maker though the model's sales potential may not be fully realized due to capacity restraints in its factory in Zuffenhausen, Germany.
Porsche will launch an updated version of its entry-level sports car Porsche Boxster in China this September, according to Broeker.
Broeker expects the new Porsche 911 would also provide an impetus for China to replace the United Kingdom as the third largest market for the model within one or two years. China is also the No.2 market for Boxster and Cayman.
In order to narrow the gap between China and Western countries in sports car culture, Porsche will also launch intensive road shows and test drive events in China and may integrate Chinese consumers' needs into its vehicle development process, Broeker said.
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