German luxury car brand Porsche has completed only three years in India but has already achieved sales of 400 cars. What's amazing is the company's target of selling equal number of cars every year from 2010. The deep pockets of the young and rich Indians have made this German company to record a growth of 20 per cent every year, and the figure is expected to go higher.
On the sidelines of the opening of its Mumbai showroom, Deesch Papke, managing director, Porsche Middle East and Africa, spoke about the company's India plans to Business Standard. Excerpts:
What has prompted Porsche to introduce so many models in India?
We currently sell four models in the country - 911 Carrera, Cayenne, Cayman and Boxter ranging from Rs 50 lakh to Rs 1.4 crore (Rs 14 million). When we enter the market we enter it totally.
Cayenne's share in total sales was 85 per cent in the first couple of years. This, we have brought down to 65 per cent last year as we pushed our other models. India will see more model launches in future.
Do you think India will live up to Porsche's expectation in the near term?
India is producing more millionaires than any other country. Indians are well travelled and educated. They have driven Porsche's abroad and look to have similar experience here. With improving infrastructure (roads) and growing ambitions of the people we see India as a very promising market.
We are sure that the Indian market will grow substantially as it has already become one of the fastest growing markets in the world surpassing even our own expectations.
How is India compared with the rest of the world (in sales)?
It has been just three years since we entered the country and have already sold more than 400 cars. This, when compared with the largest (automobile) market in the world - US, where we sell 45,000 cars a year, stands to be small. China too is a very fast growing market, all thanks to favourable business conditions.
What is the projected growth for the country?
We are targeting a growth of more than 20 per cent annually with introduction of newer models including the 911 Cabriolet, Panamera and the GT2. With a subsequent increase in outlets (12 by 2012) we are optimistic of achieving a good growth.
All our future models will get introduced (in India) simultaneously as and when they get launched in international markets. We are also aiming to improve our 24 hours service assistance network.
