Prices For The Cayenne Are Likely To Drop By 15-20% As Porsche Considers Assembling SUV In India: Report
Due to the legendary Cayenne model’s rising popularity in India, German luxury sports car maker Porsche plans to begin manufacturing the vehicle there. An official said that Porsche is investigating the possibility of assembling the Cayenne SUV on-site in order to benefit from tax advantages and strengthen its position in this rapidly expanding market.
Detlev von Platen, the vice president for overseas regions and emerging markets at Porsche AG, and Matthias Becker are currently in Delhi for meetings with senior government officials, including those from Invest India and Niti Aayog, according to a report by the Economic Times.
In India, fully imported automobiles with a CIF (Cost, Insurance, and Freight) value exceeding $40,000 are subject to a 100% duty, whereas vehicles with a CIF value under $40,000 are subject to a 70% fee. Due to lower customs fees on readily available car components, costs for locally constructed automobiles will drop by 15% to 35% compared to present pricing.
The present presence of Porsche in India
Currently, Porsche offers a variety of imported vehicles, including the Macan, Cayenne, and Panamera. Porsche automobiles cost between Rs. 88 lakh to Rs. 1.84 crore (ex-showroom) in India. The company’s sales in India reached 779 units in 2022, a staggering growth of 64%. The Cayenne model was responsible for over half of these sales. Porsche India strengthened its presence in the Indian market by opening two new shops in April 2023, one in Bengaluru and the other in Chennai.
