Porsche China expects sales to rise 70% this year
BEIJING -- Porsche (China) Motors Ltd. expects sales to rise 70 percent this year to 20,000 units, as the best-selling Cayenne SUV continues to enjoy strong demand, the state-owned China Daily newspaper reported.
In October, sales of Porsche vehicles rose over 50 percent in China to 1,546 units from 1,011 the year before, Porsche said earlier this month.
Overall 10-month global sales were up 28.2 percent to 100,391.
Porsche China CEO Helmut Broeker said the Cayenne has generated 55 percent of Porsche's Chinese sales, while the four-door Panamera accounted for 30 percent of sales.
Broeker predicts China will surpass the United States as Porsche's largest market, with estimated sales of 40,000 units, by 2015.
Many of those sales will be generated by the Porsche Cajun, a compact SUV that will enter production in Germany in 2013, Broeker said. Compact SUVs are one of China's hottest product segments.
But Porsche has not yet decided whether to produce the Cajun in China.
Anticipating higher sales, Broeker said Porsche plans to have 100 dealerships in China by the end of 2014, up from 39 this year.
Porsche is aiming to double annual global unit sales to 200,000 units by 2018.
David Jolley contributed to this report