Porsche has a new home in Mumbai

Company Brief

New Delhi, November 20, 2007

Porsche has a new home within India’s burgeoning market for exclusive cars. With the opening of Porsche Centre Mumbai on the prestigious N. S. Patkar Marg in south Mumbai and an overall investment of US$2 million Porsche is set to provide customers in the subcontinent’s powerhouse with a state-of-the-art facility.

Construction of Porsche’s showroom started mid of 2006, and now the finished building is home to the Porsche product range. The technological and sporting icon of Porsche, the Carrera GT, will be on display for a few weeks before it will be flown back to Germany.

India is an extremely important, emerging market for Porsche. Whilst the luxury car segment here is still in its infancy, the future potential is enormous, especially as the Indian economy is booming at a breathtaking speed. Therefore, Porsche has given a high priority to develop the market for the brand, with emphasis given to establishing the right infrastructure for customers, from an outstanding overall buying experience to exemplary after-sales service.

Ashish Chordia, CEO of “Precision Cars India Pvt. Ltd.” the importer of Porsche in India and its dealer Shreyans Motors Pvt. Ltd., is delighted with the progress the dealership has made. "It has always been my dream to build a world class facility in Mumbai, which will prove to be a landmark and a benchmark in the automotive history of India. The local infrastructure certainly made it difficult to pursue such a dream but now we have delivered what will be seen as a truly world-class facility. We are very proud of our achievements and look forward to providing our customers with world-class products and services."

India’s economy has been growing at a ferocious pace and will surely continue to do so in the coming years. With Porsche’s approach in setting up high-quality world-class dealerships in India, the brand will be extremely well positioned to offer customers a high-end product with uncompromising standards of service. Chordia and his team will continue their efforts to establish the Porsche brand in the Indian market with the same standards as they would be anywhere else in the world.

Even though the demographics of the evolving customer base is difficult to define in India, Porsche is conservatively expecting a growth of about 30 – 40 per cent in sales next year from the current-year forecast of around 150 units.

"India is a promising market with a fantastic future," says Deesch Papke, Managing Director of Porsche Middle East & Africa. "Regionally, we have enjoyed continued growth and we are looking forward to using our support resources to help turn Porsche in India into a tremendous success. The Porsche brand can only profit with our new home in Mumbai and similar facilities across India."

Currently, the Porsche Cayenne model range is Porsche's best selling model in India and has a major share in the overall luxury SUV market. Indications show this trend is set to continue; all the while. At the same time Porsche expects to maintain the leading role in the sports car segment, which it already dominates with the Boxster, Cayman and 911 range.

The next major sales leap will be with the launch of the Panamera in late 2009. This luxurious four-door Grand Turismo will perfectly match the taste of exclusive Indian customers.

Since expectations are that the German carmaker will continue to enjoy positive growth, there are plans to open a facility in the North of Mumbai during 2009. But until then, Porsche Centre Mumbai expects to further develop the brand in Mumbai that has become synonymous with motoring enjoyment around the world.

For further information, please contact:

Taruneet Rekhi

Avian Media Pvt Ltd

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