In 2021, on the occasion of the 20th anniversary of Porsche’s entry into China, with a delivery volume of 95,671 new cars, Porsche achieved a growth rate of 8% year-on-year, and became the largest single market of Porsche globally for the seventh consecutive year. Nowadays, electrification, digitalization, innovation, and sustainability have become the new focus of Porsche.
In addition to the ever-steady Cayenne and Macan, Panamera’s sales in China account for more than half of the global total sales. With a deep-rooted influence on sports cars among young consumer groups, the sales of 911 also increased by 67% year-on-year, achieving a high double-digit growth for two consecutive years. Taycan set a delivery record of 7,315 units in 2021.
Currently, Porsche has introduced 16 pure electric and plug-in hybrid models to China, and the proportion of new deliveries of Porsche electrified models reached 18% in 2021, an increase of 8 percentage points over the previous year, ranking first among traditional luxury car brands. The Porsche Taycan, with its powerful performance and outstanding design, has helped the brand successfully expand its customer base. 72% of Taycan users are first-time Porsche buyers, and generally have higher income and educational backgrounds.
As of the end of last year, Porsche had 140 sales outlets in China, with 6 new ones added in 2021. Porsche Financial Service signed more than 47,000 contracts in 2021, a year-on-year increase of 16%, and the market penetration rate of financial services exceeded 50%, an increase of 3% from 2020. Porsche Approved Pre-Owned Car transactions reached 7,501 units, a year-on-year increase of 54%, equivalent to six times that of 2016. Among them, 2,314 transactions of pre-owned cars were online orders, accounting for more than 30% of the total retail volume.
Porsche Asia Pacific Motorsports Trading (Shanghai) Co., Ltd. was also officially established in mid-last year, striving to provide more convenient car purchase for Chinese racing customers, and promote the vigorous development of local racing culture.
Digitalization
In January last year, Porsche China’s digital department became an independently operated company-Porsche (Shanghai) Digital Technology Co., Ltd., marking an important milestone in the brand’s digital ecological construction in China.In the wave of digitalization and intelligence in the automotive industry, the Chinese market has become the forefront of many automotive companies’ efforts. Porsche actively embraces change, integrates more deeply into Chinese society, focuses on digitalization, innovation, and sustainability, and collaborates to build and share a new ecosystem for mobile travel. In terms of digitalization, Porsche further caters to market trends and accelerates the development of localized solutions in the three areas of “product and service experience,” “enterprise and dealer management,” and “market and after-sales models.”
Last year, Porsche China’s WeChat service account continued to optimize, and now has more than 100,000 registered users; POS (Ruida Retail System) and DSS (Rui Xiang Service System) were launched one after another, bringing huge improvements to the digital transformation of dealer terminals; online sales business expanded rapidly, and as of the end of last year, the number of registered users for the Recognized Easy Car mini-program has reached nearly 1 million, accounting for 30% of the overall business, effectively promoting the realization of Porsche’s “all-channel development” strategy goals. Starting in 2022, the platform will officially open online ordering of new cars, further advancing Porsche in the field of e-commerce.
Investment/ESG
In addition, Porsche pays close attention to domestic startups and innovation directions, and regards them as market sensors for discovering new technologies and trends. In 2021, Porsche’s venture capital deepened its layout in the virtual digital human and 3D printing fields in China, and strategically invested in many venture capital companies and startups, including iMaker and INTAMSYS.
As a pioneer in the field of sustainability, Porsche has committed to achieving carbon neutrality throughout the entire value chain by 2030, guided by the principles and framework of ESG (Environment, Social, Governance).
🔗Source: Porsche China
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.