Porsche bolsters market share

Porsche has boosted its market share over the past three months in most of the segments in which it competes despite the continuing economic downturn, said a senior executive.

The German luxury carmaker divides its model line-up into four segments – the Boxster/Cayman, 911, top-of-the-range 911 models and Cayenne. It regards BMW, Mercedes-Benz, Audi and other leading sports car manufacturers such as Aston Martin as its main competition.

"Our segmentation shares have actually gone up in the last three months in all our segments bar one and that for us is a very strong driver," Deesch Papke, Managing Director of Porsche Middle East and Africa, told Emirates Business. "If you're all in trouble the only thing you can then measure is how you're doing in comparison to your opposition."

George Wills, Sales Operations Director, said: "In fact if you go back even further than that, for the last year, even at the height of the recession, our market share has significantly increased."

Papke said the main effect of the recession on the Middle East market was to cut waiting lists for Porsches from a pre-crisis average of six months to two months, though he confirmed that improved discount deals were being offered by dealers. "We've hung in very, very well with regard to the discounting thing but to say our importers don't discount at all would be a complete untruth," he added. "The discounts have increased."

But Wills said only certain models were available at reduced prices. "It's not across the board," he added. "If you're going into the summer months when convertibles become a bit more difficult to sell then you might enjoy a little bit of discount."

On the fiscal year, Papke said: "We are confident that we will meet last year's sales figures and in all likelihood we will exceed them."

Porsche is embroiled in a long-running takeover saga involving fellow German carmaker Volkswagen. The two companies are due to merge in 2011 but last week Norway's sovereign wealth fund – a major Volkswagen shareholder – said the deal should be cancelled because the terms were unfair.

Papke and Wills were speaking at the UAE launch of the Panamera, the first four-door sedan to be made by Porsche in its 78-year history.

 

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