Porsche: Car Maker Sees Fast Growth In China
In July, I stopped by a Porsche dealership in Shanghai, and one of the sales people told me the company sold around 2,000 units in China last year. Today, I just ran across some comments made by the marketing chief at Porsche, and the company is estimating at least 3,500 units for China this year. Assuming the salesperson’s suggested figure for last year is close to accurate, that would be phenomenal growth.
Porsche stated this week that global sales are up only 3.5% over the previous year, so imagine how important the China market must be for the luxury car manufacturer. By my estimate, China is already one-fifth of the car company’s business this year. Within five years, according to Porsche, China will be the company’s largest market. Not bad for a developing economy.
The suggested growth at Porsche is mirrored over at Bentley Motors, which expects to double sales in China this year with 250 sold. One thing is for sure: China’s luxury car market looks pretty attractive.