Porsche 2003 Annual Report Download - page 51

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47
Southern and Eastern Europe:
Presence increased
Southern and Eastern European countries are making an
increasing contribution to the company’s success. During the
review year, deliveries increased by 58.7 percent to 1,208
units. The Cayenne was of particular significance in these
markets, with 883 sold (preceding year 346 units).
Not only sales figures are on the increase – the number of
countries in which Porsche is represented also continues to
rise. During the year under review, contracts were signed with
partners in Serbia, Montenegro, Bulgaria and Kazakhstan.
The dealer network was also extended in countries where con-
tract partners are already active. Completely new dealerships
were established in Croatia (Zagreb) and Romania (Bucharest).
June 2004 saw the opening of the first Porsche showroom in
the center of Kiev. As a result, Porsche is now also represented
at a top location in the Ukrainian capital.
Russia: Porsche’s new Subsidiary Company
With the launch of the sixth generation of its classic 911
sports car, Porsche also restructured the company’s activities
in Russia. In September 2004, Porsche Russia, a newly es-
tablished 100 percent subsidiary of Porsche AG, assumed the
role of importer in this emerging high-growth market.
Porsche has had a presence in the Russian market through
a partner company since October 2000. The 911 and Box-
ster sports cars and the Cayenne SUV were previously sold
through the Moscow-based Porsche dealer “Sport Car Center”.
280 units were delivered during the review year.
Porsche Russia is planning to open two further Porsche
Centers in the coming months, in St. Petersburg and
Yekaterinenburg.
Asia/Pacific: Surge of Economic Growth in China
Economic development in the Asian markets was influenced
by an unstable political climate and the continued fall in the
value of local currencies against the Euro. In this difficult en-
vironment, Porsche none the less succeeded in nearly doubling
its sales during the year under review, with 1,413 units sold
(preceding year 749 units).
The Cayenne with V6 engine, launched in March 2004, parti-
cularly caught the attention of Asian customers. A total of 913
units of all three versions of the SUV were sold (compared with
147 units in the preceding year). This positive development
was supported by stable sales of the Boxster model line with
163 units sold (187 of these roadsters in the preceding year).
334 of the 911s were also sold (a reduction of 19.5 percent).
For Porsche too, one of the driving forces for growth in the
region was the Chinese market. Continued expansion of the
dealer network and a product range tailored to the market
produced a six-fold rise in sales figures compared with the pre-
ceding year, and 250 vehicles delivered to retail customers.
Chinese customers’ particularly strong interest in the Cayenne
models and the planned further expansion of the dealer net-
work to more than ten Porsche Centers during the current
fiscal year will result in further significant increases in sales.
As well as China, Thailand, New Zealand and Hong Kong all
contributed to positive growth in the region. We see further
potential for expansion in Indonesia. With this in mind –
and with the aim of unlocking the potential of the Indonesian
market – a new Porsche Center was opened in Jakarta in
March 2004.
The Chinese market
contributed to the company’s
strong growth in Asia.