CARMAKER Porsche said yesterday that emerging superpower China could usurp Germany as its second-largest market in less than three years, as wages in the country go up and demand for its sports sedan rockets.
“All premier manufacturers in China are showing good results,” Porsche’s China boss Helmut Broeker said.
The carmaker is planning to add dealers to its Chinese arm, and move its office to financial capital Shanghai to boost sales.
Porsche is the latest manufacturer to jump on the Chinese bandwagon, as companies like Audi, Jaguar and Daimler all move to offset a plunge in demand in Europe by selling more cars in China.
Vehicle sales in China have rocketed 14 per cent this year, while the number has slumped 37 per cent in the US.
A stimulus package in China has maintained growth in the ever-expanding economy. Porsche sales have increased by three per cent in China so far this year.