Business Daily from THE HINDU group of publications
Wednesday, Jul 16, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, Jul 16, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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New Projects Porsche expands operations in India; Rod Wallace to head 100% arm Our Bureau New Delhi, July 15 Sanguine on the domestic premium car market, Porsche is aiming to sell around 200 cars this year, a growth of about 70-80 per cent from the previous year. In order to entrench its position locally, the German sports car maker, has recently set up its wholly-owned subsidiary, Porsche Cars India Pvt Ltd, consisting of a team of 15 employees. It is being headed by a newly-appointed Managing Director, Mr Rod Wallace. Porsche Cars India plans to double its team in a year’s time and expand its dealership network. “Indian market is evolving and premium brands are in a stronger position than they have ever been as the customers also become more discerning,” Mr Wallace told Business Line. He said that it was hopeful of selling more, as it planned to increase its dealership network in the country. “At present, we are present in Delhi and Mumbai. But we would like to expand to major cities like Hyderabad, Bangalore and Chennai. In two years’ time, we expect our dealer network to be around 10,” said Mr Wallace. Porsche has been present in the domestic market since the last two and half years selling models such as Cayenne in the range of Rs 58 lakh-1.13 crore, Boxster from Rs 45-68 lakhs, Carrera between Rs 74 lakhs-97 lakhs. Some of the other global car makers BMW and Daimler AG that produces Mercedes Benz brand of cars also have set up local assembly operations. However, the company said that it had no such plans in the country. “It is not a practice that we follow anywhere in the world,” he commented. More Stories on : New Projects | People | Cars
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