Porsche looks to strengthen product portfolio in India

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German luxury sports car maker Porsche is working at strengthening its product portfolio and expanding its presence in the Indian market, to build on the strong momentum in demand it has seen this year.

“We increased our volumes by 90% in the first nine months of the year. We could have done better if not for the semiconductor shortage. It means the market is ready and the customers are available,” Manolito Vajucic, the brand head for Porsche India, told ET. “Our ambition is the next year will become the best year ever for Porsche India in all aspects, be it in volumes, customer care or market share of sports cars.”

Porsche India delivered 334 cars during January-September this year.

Vujicic was speaking on the sidelines of the launch of the electric Taycan and the new Macan, tagged upwards of Rs 1.50 crore and Rs 83.21 lakh, respectively.

The company saw strong demand post the easing of the lockdowns imposed by state governments to check the spread of the second wave of the pandemic, with sales last quarter increasing 164% compared with the same period of 2020. In July-September 2021, sales also grew 25% over its “previous best third quarter from 2014”, Vajucic said.

He added: “We see huge potential in the Indian market, not only because of the size of the market here, but also because consumers here are car enthusiasts. The share of sports cars in our overall sales stands at 20%, which is double of that in Europe.”

The national capital currently contributes the highest sales volumes to Porsche India, which has a sales presence in five major cities in the country. To increase reach, it will open four new showrooms, including in Bengaluru and Chennai, in the first half of 2022.

As relates to the issue of high import duties – which has been a common concern for multinational companies shipping completely built units (CBUs) for sales in the country – Vujicic said Porsche India is “going with the flow”.

“Porsche customers, they know this issue and they accept to pay these duties, because that’s a part of living in India. Therefore, I think that (high duty structure) was never an obstacle in any market we have been involved in,” he said.

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