News: Porsche to launch Cayenne in India

(BL 23/12/2006) Mumbai - Porsche will be introducing the new Cayenne in April 2007. The new model that is likely to make its worldwide debut at the Detroit Motor show in January 2007 will be introduced in the country with major changes in exterior and interior styling and engine upgrades said Mohammed Rahman, Managing Director, Porsche India. The company is also gearing up for the Indian launch of its first four-door coupe model, the Porsche Panamera in 2009.

Besides product launches, Porsche India has introduced the used car business and is most likely to introduce the Porsche Financial Services by 2008.

Since two years, the company has been in the country. It has sold 250 Porsche cars (the cheapest car is priced at around Rs 50 lakh) till date, said Rahman. Ever since they got going with the used car business a year ago, the company has sold 20 cars in second sales, eight per cent of total sales.

The Porsche pre-owned (used car) car business is governed by various global systems and parameters set by the company. Every pre-owned car undergoes 103- point parameter check and is backed by a one-year warranty. Considering the continuous upgrade in the global Porsche product range, various Porsche owners are looking at an upgrade in their existing product profile or opting for a new Porsche model. That has invariably created demand in the used car market.

Porsche is looking at introducing the Porsche Financial Services in India. In 2007, various studies will be conducted before the company introduces it in 2008. On a global platform, the financial services include features like preferred lease (providing flexible, attractive terms and reasonable monthly payments on new and pre-owned up to five-year-old Porsche models), retail financing (finance terms to spread out the cost of the vehicle - up to 84 months in some cases), Porsche options (one pays only for the period during which one has driven the new or pre-owned Porsche (up to five-year-old models with an estimated final balloon payment covering the vehicle's remaining expected value), direct pay programme (the programme helps simplify the payment process by automatically deducting the monthly payments from a designated account, payment estimator (a calculator that gives you an approximate estimate of the actual sum of money that will be paid upfront and credited on a monthly basis to the bank account) and European delivery (this exclusive customised programme allows one to take delivery of your new Porsche while touring Europe; the local dealer takes care of the delivery in one's country of origin).