Porsche China Is Confident of Results of 2021: CEO

The transcript discusses Portia's performance in the Chinese market, highlighting record sales and demand exceeding supply. It addresses challenges for 2021, including the pandemic's impact on production and transport. The closure of China's borders has shifted luxury spending towards Portia, boosting sales. The demand for electric vehicles, particularly the Tycoon model, is growing, with many new customers. Investment priorities focus on innovation and digitalization. The semiconductor shortage is a concern, but Portia has managed to mitigate its impact. Geopolitical tensions are acknowledged, but the focus remains on fulfilling customer dreams. Competition from Tesla and Chinese brands is noted, with an emphasis on innovation.

What was a significant challenge for Porsche in the Chinese market during the first quarter of 2021?

• High demand exceeding supply

• Decreasing interest in sports cars

• Lack of new car models

• Low demand for luxury cars

How did the closure of China's borders affect luxury spending?

• No impact on luxury spending

• Decreased spending on all luxury items

• Increased spending on local luxury items

• Increased spending on international travel

What trend was observed in the Chinese market regarding two-door sports cars?

• Stable demand

• Increasing popularity

• Decreasing popularity

• No interest from consumers

What percentage of Taycan customers in China were new to the Porsche brand?

• 50%

• 60%

• 75%

• 80%

What is a key focus for Porsche to maintain its momentum in the Chinese market?

• Increasing production in China

• Expanding into new countries

• Reducing car prices

• Investing in innovation and digitalization

How has Porsche been affected by the global semiconductor shortage?

• Increased car prices

• Severe production delays

• Minimal impact so far

• Complete halt in production

Which competitor is noted for its performance in the Chinese electric car market?

• Audi

• Mercedes-Benz

• Tesla

• BMW