Porsche likely to assemble Cayenne SUV in India to expand footprint
At present, Porsche sells a range of imported cars such as Macan, Cayanne and Panamera priced between Rs 88 lakh and Rs 1.8 crore (ex-showroom) in India
Porsche sells a range of imported cars such as Macan, Cayanne and Panamera priced between Rs 88 lakh and Rs 1.8 crore (ex-showroom) in India.
German sports luxury car manufacturer Porsche is reportedly planning to begin the assembly of its iconic model in India amid an “unprecedented surge” in demand.
Porsche AG’s Detlev von Platen, the member of the executive board for sales and marketing, and Matthias Becker, vice president of region overseas and emerging markets, are in Delhi to meet senior government officials, the Economic Times cited sources as saying. The two would meet officials at Invest India and Niti Aayog, the government policy think tank, on August 22.
Moneycontrol couldn’t verify the report independently.
“Porsche is examining possibilities to locally assemble the SUV (Cayenne) to avail of tax benefits and expand its footprint in this fast-growing space,” a senior executive familiar with the matter told the financial daily on condition of anonymity.
In July, Porsche launched the 2023 Cayenne facelift in India, at starting price of Rs 1.36 crore, which is Rs 10 lakh more than its predecessor. The Cayenne facelift is pitted against the Range Rover Sport, Mercedes-Benz GLE, Audi Q8 and Jaguar F-Pace and others in the segment.
Porsche sells a range of imported cars such as Macan, Cayanne and Panamera priced between Rs 88 lakh and Rs 1.8 crore (ex-showroom) in India.
Its sales in India surged 64 percent year-on-year to 779 units in 2022, with Cayenne accounting for almost half of it. Notably, India overtook Japan in auto sales in 2022, moving to third place for the first time.
New Delhi imposes 100 percent duty on fully imported cars CIF (Cost, Insurance and Freight) valued more than $40,000 and 70 percent on those costing less than the amount. Customs duties on knocked down auto parts, which are then locally assembled, are largely lower at 15-35 percent.
The German luxury carmaker is all set to open its first assembly facility outside of Europe in Malaysia soon, where Cayenne will be produced for the local market. India is likely to join the ranks if the talks between the government and the automaker materialise.
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