Press releases

Current Press releases

Porsche launches the brand’s first official self-operated financial solutions at the 4th China International Consumer Products ExpoCommitted to e-mobility and pioneering green consumption trends

• Porsche booth showcases three highlight models – the new Panamera, the new Cayenne E-Hybrid and 911 Turbo S 10 Years Porsche China Edition - at the CICPE, intending to communicate its modern luxury brand positioning and personalised lifestyle;

• Porsche introduces its first official self-operated financial solutions package for end customers in China, providing competitive residual value for electric sports cars;

• As an attempt to explore a new model of digital consumption, Porsche car subscription service – based on the luxury mobility service Porsche Drive – officially goes live;

• Porsche enters its biggest year of product launches ever in 2024, with a continuing expansion of its electric vehicle lineup, to further its presence in China.

Shanghai/Haikou. On 13 April, the 4th China International Consumer Products Expo (“Hainan Expo”) kicked off in Haikou City, Hainan Province. As one of the major automotive exhibitors at this year's Hainan Expo, Porsche China, with the theme of: “Powerup for New Quality Life”, communicated its brand positioning of modern luxury and personalised lifestyle to consumers by showcasing the pioneering sports cars lineup and exclusive ecosystem. During the event, Porsche announced the launch of its first self-operated financial solutions package for end customers in China, and the launch of Porsche mobility subscription service with partners, in order to respond to local market consumption trends with smarter and more flexible services, and to further improve the brand's ecosystem in China.

"Porsche is honoured to once again be part of this global event, which is an important platform for extending trade cooperation and promoting exchanges and development. We have always regarded the Chinese market as an innovation powerhouse for Porsche worldwide and a bellwether for consumer trends. In response to upgraded consumer demands in the new energy vehicle market, we are committed to meeting the expectations of our Chinese customers and enriching their NEV options with an attractive product portfolio. Through flexible and versatile automotive financial services and eco-experiences, we can align with diverse consumer trends and inspire consumers’ enthusiasm for personalised lifestyles," said Mr. Michael Kirsch, President and CEO of Porsche China.

Responding to consumer trends in China to create an exclusive luxury automotive ecosystem

As the Chinese market continues to optimise, consumers have higher demands for personalisation. As an imported sports car manufacturer, Porsche attaches great attention to the unique preferences of Chinese customers and has a deep insight into consumer trends. By rolling out a range of services around mobility, Porsche is working intensively to build an exclusive ecosystem for the brand in China.

Launched at the event, the self-operated financial business package is a financial solution tailored for Chinese automotive consumers. It consists of two self-owned leasing products, Standard Leasing and 3-way Leasing, covering both new and pre-owned vehicles of Porsche brand. Standard Leasing is designed to increase customer affordability and support retail through flexible product offerings and long tenor options. While the 3-way Leasing will provide competitive residual value and interest rates, aiming at further reducing customers' concerns about vehicle depreciation. This initiative leverages brand strengths and product capabilities, enabling an all-round improvement in product portfolio, interest policy, residual value setup, digital experience and service quality.

In addition, Porsche Drive, the mobility service launched during last year's CICPE, has been further updated and optimised. In collaboration with strategic partner Maple Leaf Car Rental, Porsche debuted the car subscription feature in China based on Porsche Drive, with an aim to bring Chinese customers a better mobility experience and to promote the healthy development of China's car rental industry. Users can enjoy a full-cycle closed-loop mobility subscription service that includes vehicle maintenance, insurance, and licensing, by simply paying a monthly fee. This provides users with automatic renewal services to circumvent the additional high cost and reduce the financial burden of lump-sum payments. As a new offering, car subscription follows the current trend of Internet-based and digital consumption, winning the hearts of younger generations of consumers with a more flexible, cost-effective and choice-driven approach.

Adhere to value-oriented growth while expanding electric product lineup to stimulate consumer potential

Porsche is committed to a value-oriented growth strategy, with an electrified product lineup as a key driving force. According to its ambitious target, Porsche is working to increase the share of all-electric models in new car deliveries to more than 80 percent in 2030. Porsche enters its biggest year of product launches in 2024, as it rolls out new or considerably revised models from Taycan, Macan, Panamera and 911 series. In particular, two heavyweight models - the new Taycan and the new all-electric Macan - will be ready for delivery in China in the fourth quarter this year. In parallel, Porsche will deliver a host of automotive services around ecosystems and financial business that are tailored more closely to the Chinese market context, bringing customers an even more exciting and high-quality consumer experience.

There are more attractive electric models to come: as the all-electric 718 is planned for the middle of the decade. It will be followed by the all-electric Cayenne. Porsche is also planning to expand its product portfolio upwards – with an all-electric SUV, sportily positioned above the Cayenne. This completely new car concept is based on the SSP Sport platform developed by Porsche. Its powerful performance, automated driving functions and a completely new interior experience are intended to tap into new customer potential – particularly in China.

Expanding operations in Hainan and supporting the high-quality development of China's automotive industry

As China’s transformation towards green, low-carbon and high-quality development gains pace, Hainan has always played a pioneering role in leading the way, expanding and deepening the concept of a low-carbon economy and green mobility. Hainan has proposed a complete ban on the sale of fuel vehicles by 2030 to progressively implement its strategy of using clean energy vehicles across Hainan Island in phases and by sector, which coincides with Porsche's plan to transform to an e-mobility brand. Currently, Porsche has two authorised dealerships in Hainan, and is working to build a variety of charging infrastructures, including Exclusive Charging, Destination Charging and others. This comprehensively benefits customers’ purchase experience and daily use in Hainan.

Hainan's open market environment and attention to new consumption trends also bring favourable development opportunities and broad market space for enterprises. “This year's Hainan Expo, which features a more innovative model, a new record in participants and a wealth of activities, has truly evolved from a one-off exhibition to an island-wide consumer event. This event effectively promotes consumption upgrading and unleashes consumer potential,” said Mr. Michael Kirsch, President and CEO of Porsche China. “As a foreign company with years of presence in China, Porsche has always been confident in the development and opportunities of the Chinese market. Going forward, we will continue to energise Hainan as well as China's automotive industry with our premium products and services, and work together with Chinese partners to embrace the future of electromobility in an open society.”

Porsche Booth at the 2024 China International Consumer Products Expo

– End –

About Porsche China

Porsche was founded by Prof. Dr. Ferdinand Porsche in Stuttgart, Germany, in 1931 and was then transformed into a sports car manufacturer by Ferry Porsche in 1948. Porsche has been known as one of the most prestigious automobile brands in the world for decades. True to the core brand value of performance, Porsche leads the way in providing a new generation of sports cars that prove performance and efficiency can be perfectly combined.

Since entering the Chinese mainland in 2001, Porsche China has been dedicated to bringing the sporty genes and innovative spirit of the marque to Porsche enthusiasts in this dynamic market. In Porsche’s network in China, customers can experience the unlimited appeal of Porsche’s iconic sports cars: the legendary 911 series, the renowned 718 Boxster and Cayman mid-engine sports cars, the luxurious Cayenne premium SUV, the dynamic and pioneering Macan SUV, the luxurious four-door Panamera with pure sports genes and the all-electric Taycan with four-door sports saloon. Each demonstrates excellence in performance, exquisite design, and consistent commitment to perfect quality that Porsche embodies. Across Chinese mainland, Hong Kong and Macau, there are now 155 sales sites in operation, ensuring that Porsche customers across the country receive the hallmark personalised care that sets Porsche apart around the world.

4/13/2024

Further information and pictures for journalists and media representatives can be found on the Porsche press database at http://presse.porsche.de/.