Porsche, a leading German sports carmaker, plans to open a finance wing for its top-notch cars. The structured finance option is aimed at achieving net car sales of 200 units in the domestic car market.
Porsche, since its debut in India have introduced several successful cars in the Indian car market. Some of the top most selling cars under its brand name are Porsche Cayman, Porsche Boxster, Porsche 911, and Porsche Carrera. The company says that it had sold off a number of 101 cars till September 2008 and wish to react the targeted sale of 200 units by the end of this fiscal.
Porsche says that it is currently negotiating with two leading banks to support their finance options. Rod Wallace, managing director of Precision Cars India (PCI), also announced that the company plans to have a stronger and long-term financial partnership in the country in order to attain a higher market share and strengthen its presence.
As an integral part of its expansion plan, the company also desires to launch two new car models including a hybrid sedan through its Delhi-based importer Precision Cars India. The hybrid will roll out as flagship model of Porsche Cayenne and the other car will be a four-seater Panamera that is yet under design stage.
Porsche has high aspirations from the Indian car market and hence approaches the industry with greater expansion plans.