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This story is from October 7, 2009
Porsche drives in Rs 1.4cr Panamera
German sports carmaker Porsche drove in its Panamera luxury sedan with a starting price of Rs 1.4 crore, saying it expects a 20% growth in sales in India this year, though on a small base.
The company, that sold 168 units in India last year, expects 2009 sales to top the 200-unit mark as it opens dealerships in newer cities like Cochin, Hyderabad and Chennai and rolls out new brands like the Panamera and the new Boxster that was showcased at the Geneva Motor Show.
���The volumes may be small in India, but it is an evolving market and we are confident that numbers here will rise in the coming years," said Rod Wallace, MD of Precision Cars, the importer of Porsche vehicles for India.
Wallace said that demand for luxury products like the Panamera was still there, even though the segment suffered from the economic slowdown. "Already 13 units were pre-sold before the launch. We have also received six additional enquiries for the car," he said. Precision Cars plans to import 50 units of the Panamera by year-end, Wallace said, adding that this was the maximum quota allotted for India.
The Panamera is Porsche's first sedan after more than six decades of manufacturing sports coupes and will compete with models like the Maserati Quattroporte and Mercedes-Benz CLS. The entry-level Panamera S is powered by a 4.8-litre V8 engine, developing output of 400 hp and racing up to 100 km/h in 5.4 seconds.
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