Porsche: 100 Million Euro to Expand German Sales

Porsche has chosen Automobil International (AMI) in Leipzig to debut the 911 Cabriolet, new Boxster and Cayenne GTS.

“The AMI is an ideal venue for unveiling the new products in front of a domestic audience”, said Klaus Zellmer, CEO of Porsche Deutschland GmbH. “The domestic market Germany is a known quantity for Porsche. That is why, with our partners, we are planning to invest more than 100 million euro in the medium-term in existing and new Porsche centres”.

Porsche says current sales figures substantiate these plans. In May, Porsche customer deliveries in Germany totalled 1,917: up 24 per cent on last year. Cayenne alone sold 750 units and continues to be a domestic best seller.

Is bullish Stuttgart on the money? Well, the upswing defies a German market trend of reduced sales through May, due to fewer trading days in the month. Total German market for 2012 is predicted at close to 3.2 million vehicles, but Reuters says this prediction will depend on “further economic development”.

While PWC reports that German brands now account for 80% of luxury sales in the fired-up Chinese market, and German business sentiment has been rising for the last six months, consumer confidence in Germany fell for the fourth consecutive month in May, tempering hopes that citizens’ spending would supercharge the economy.

“It would be premature to believe that the German economy can maintain strong growth rates when the rest of the Eurozone is faltering”, cautioned Carsten Brzeski at ING Bank.

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