- By Divanshi Sharma
- Thu, 24 Aug 2023 08:25 PM (IST)
- Source:JND
Porsche, the German luxury sports car manufacturer, is looking at ways to grow its brand presence in the Indian market. The brand has already established itself as a luxury car maker and is looking forward to learning more about the Indian market, to gain a strong hold in the growing Indian autombile market.
On his first visit to the Indian subcontinent, Detlev von Platen, the executive board for sales and marketing at Porsche AG, in an interview with the Economic Times, stated, “We are eager to learn about the market. There is a lot of momentum in India. We think about possibilities rather than challenges. India has one of the world's fastest-expanding economies. Many large corporations are interested in expanding into India. Education levels have shifted substantially during the last decade. And you can see India's desire to embrace investments, to invest not only in education but also in infrastructure and in things that are extremely important for the future, for us, which is sustainability...That is clearly one of the reasons for our great emphasis.”
The corporation has not disclosed any plans for local investment or developing a local manufacturing network in India. He did, however, reveal that the brand is now concentrating on building locations where customers will recognise the quality that goes into it. He also stated that the organisation is aiming to establish itself as a legitimate and distinct luxury brand in India.
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Porsche’s Current Presence in India
Porsche currently sells a number of imported cars such as the Macan, Cayenne, and Panamera. The prices for Porsche cars in India range from Rs 88 lakh to Rs 1.84 crore (ex-showroom). Sales in India for the company increased by an astounding 64 per cent in 2022, totalling 779 units. Nearly 50% of these sales came from the Cayenne model. Porsche India opened two new showrooms in April 2023, one in Bengaluru and the other in Chennai, further strengthening its position in the Indian market.
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