Porsche wants 15 new markets by 2020 image

As part of its growth plan, Porsche AG is aiming to increase its worldwide presence by entering 15 new countries by 2020, most of them on the African continent.

A further expansion into new territories would allow Porsche reach its proposed target of selling more than 200,000 cars annually by 2015 or 2016. Porsche was responsible for 1.29 billion euros ($1.75 billion) of parent Volkswagen AG’s first-half operating profit of 5.78 billion euros, which translated to the sports car manufacturer being the third-largest earnings contributor after the Audi and VW brands.

“We’re covering new markets where we have not been in yet,” Bernhard Maier, Porsche’s global sales chief, said in an interview in Shanghai last week at the opening of its largest dealership in the world. “We’re aiming to go into an additional 15 countries by the end of the decade.” He said Porsche would look to North Africa, without specifying which markets.

The company is also looking for growth opportunities in expanding its model lines, such as adding the Macan compact sport utility vehicle, which would be targeted at “better exploiting” all markets, Maier said. The Macan will begin deliveries next year.

Sales in China, already the Stuttgart, Germany-based company’s second-biggest country after the US, are likely to continue their growth as Porsche almost doubles its dealership network to 100 units by 2016, from the current 57, Maier added.

Via Bloomberg