The Overseas region includes India, Advanced Asia (Japan, South Korea, Taiwan and Australia) and the Asean countries; China is a region in itself, along with Europe, Germany (it is classified as a region) and North America.
This region, classified under V5, saw 2023 sales of 52,220 that account for the 16% increase over the previous year.
Since 2012, Porsche sales in this Overseas region grew steadily from 22,185 units to achieve 100% growth in 2022 with 45,141 units.
Becker.
The Asean region is singled out for a dedicated growth strategy as its combined economy has moved its position from below 10th in world ranking (2000) to sixth in 2015.
With a combined population of more than 650 million today, the Asean economy is projected to be the third largest in 2030, just behind China and the United States (US).
Though the automotive market in Asean is largely dominated by Thailand, Indonesia, Malaysia and Singapore, Porsche believes in the strong economic growth to come from the other Asean countries.
As such, this German carmaker has given this due recognition by getting the ball running on its Asean Growth Strategy as part of its V5 (Overseas) growth region planning.
Apparently, this Asean Growth Strategy was initiated five years ago in 2018 and would run till 2030.
Porsche AG Region Overseas and Emerging Markets vice-president Matthias Becker says the strategy is based on a two-hub concept; Malaysia accounting for products and services and Singapore to look into markets and channels.
Malaysia is the only country outside Germany that produces Porsches albeit on a Completely Knocked Down (CKD) or local assembly basis.
While the country is currently producing the Cayenne for local consumption, Porsche is obviously looking into the possibility of expanding its production role to cater for the Asean region.
Porsche Studio Singapore.
As the Porsche Asia Pacific office is already in Singapore along Beach Road, it was only natural that it would serve as the Asean hub as well.
Porsche Asia Pacific CEO Hannes Rouff says Singapore fits the bill with its high level of digitalisation, sustainability and urbanisation.
From here, Porsche could look at building the infrastructure (convenience and care), formats (home and community) and experiences (excitement and agitation).
And getting that rolling is the Porsche Studio Singapore, a short walk from the Porsche Asia Pacific office.
Porsche Studio Singapore.
It is no longer just a vehicle sales centre but a place where anyone could walk in, buy a cup of coffee (run by the Baker & Cook chain) and browse for Porsche branded merchandise while dreaming of owning a Porsche someday.
The Porsche Studio Singapore was officially opened a day before the world premiere of the all-new Porsche Macan, with work on it starting from September last year.
Porsche is certainly covering all its bases globally and giving due recognition to regions where good sales potential is highly promising.
