Porsche likely to make a foray into pre-owned car business in India


PTI, Feb 16, 2020, 11:39 AM IST

New Delhi: Luxury sports car maker Porsche is planning to enter pre-owned car business in India in the medium term as it looks to enhance customer base in the country, according to a senior company official.

The company, which sells a range of luxury sports cars and sports utility vehicles (SUVs) such as the 718, 911, Macan and Cayenne priced between Rs 69.98 lakh to Rs 1.63 crore, currently has a total of about 3,500 customers in India.

“We are seriously looking at the pre-owned car business. Our car parc is more than 3,500 cars. It’s a sizable number. We are exploring the right format for the used car business,” Porsche India Director Pavan Shetty told PTI.

Globally, the company sells pre-owned cars under its Porsche Approved brand.

When asked how soon will the company start the pre-owned car vertical, he said, “This is a mid-term plan, it cannot be a long-term plan…We don’t have a timeframe right now because there are so many projects going on but we understand the potential of the used car business and we should be able to see the light of the day very soon.”

Exuding confidence of doing well in the used car business, Shetty said, “We are one of the few brands that offer warranty up to nine years. A nine-year warranty for a car talks about the quality itself. When you have a duty structure (on imported luxury cars) that we have in India, a lot of people would like to realize their aspiration mid-cycle because the quality is great and the car doesn’t break down.”

He further said that the span of warranty that the company offers to its cars gives a window for two owners during the period if the first owner decides to upgrade mid-way.

“So, for us, the second one is the foot in the door, who will then automatically graduate to a new car,” Shetty said.

When asked about the sales outlook for 2020, he said that it is difficult to put a number at the moment but is looking to build on what it achieved in 2019, which was a challenging one for the auto industry.

“In 2018, we did 348 cars and last year was a bit challenging for the auto segment but we ended up with 350 cars. We are quite pleased with what happened last year and we hope to build on the momentum this year… I think 2020 would also be on the lines of 2019,” Shetty said.

Porsche is looking at launching sports car Panamera, 10th-year edition towards the second quarter this year followed by electric car Taycan towards the end of this year, he said.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

India crawl to 51 for 4 after losing top-order

Nursing student suicide: Three students arrested in Kerala

Nadda’s letter to Kharge full of falsehoods: Cong

10 month baby gets new heart, new life

Actress Kasthuri released from jail, says ‘I thank those who made me raging storm’

Kidnapped for ransom in 1998, 26/11 survivor Gautam Adani faces biggest trial

100 engineering colleges in Karnataka to be ‘adopted’ by corporates by next year: IT Minister Kharge

Related Articles More

Passenger vehicle wholesales up marginally at 3,93,238 units in Oct: SIAM

HMSI recalls GL1800 Gold Wing units to fix faulty component

Hero MotoCorp looks to scale up EV biz, lines up new models

Royal Enfield forays into electric bike segment; unveils first model under Flying Flea brand

Maruti Suzuki looks to cash in on ‘few lakh marriages’ in Nov to carry festive sales momentum

MUST WATCH

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation

Geethotsava

Naxal Operation


Latest Additions

Kerala HC denies bail to police officer accused of ‘raping’ minor Dalit girl

Global Bhagavad Gita Quiz Announced: Registration now open

Kasaragod: Husband murders woman PSI

Puttur: Private bus crashes into house to avoid collision with school bus

India crawl to 51 for 4 after losing top-order

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.