Porsche Panamera set for October debut in India

With its sales falling across European and North American markets, Porsche is looking at new markets in coutries like India and China to support future growth. To this end the German sportscar maker plans to increase its sales in India through Precision Cars India, the official Porsche importer.

The company, according to media reports, plans to sell 50 units of its premium luxury sedan Panamera which will debut in the country in the first week of October '09.

The Panamera is also know as the Gran Turismo and is the first four door sports car from Porsche unveiled at the Shanghai Motor Show 2009. In India the car's top versions with a V8 power unit and luxurious carrying a price tag of Rs1.4 crore to Rs2 crore would be imported from the company's plant in Germany, according to experts. Media reports say 13 units of the car have already been booked.

Porsche has only a limited presence in India with two dealerships, one each in Mumbai and Delhi but the company plans to increase these to 11 over the next 2-3 years. It would be opening three more dealerships in Chennai, Hyderabad and Cochin in the near future. However, considering its low sales volumes, the company is not likely to set up assembly units in the near future, limiting its operations to CBU imports.

Despite its limited presence though the company says the demand for its luxury offerings is rising. It is targeting to sell 225 units over the next 12 months including the sales of Panamera.

Even as the global outlook for the luxury car maker's remains uncertain, Porsche sees a growing trend among Indian aficionados who are increasingly taking to buying luxury cars to indulge their taste for the good life.