Wed, 05 May 2021
Buyer confidence is returning to the premium luxury car market with Porsche Middle East and Africa FZE reporting its best first quarter result in five years. From January to March, 2,064 new cars were delivered to Porsche customers in the GCC, the Levant, Africa and India.
Despite continuously challenging COVID-related measures, India performed exceptionally well, chalking up its best Q1 result in seven years, thus making Porsche one of the fastest growing luxury car brands in the country in 2021. Porsche Middle East and Africa’s successful implementation of its new retail strategy helped steer importer profitability through clearly defined qualitative and quantitative targets in the first quarter of 2021 and beyond. Dubai, Saudi Arabia and Kuwait were the top three markets for the Middle East, with Abu Dhabi returning the strongest growth of 73 per cent over Q1 last year. Across Africa, South Africa, Egypt and Morocco were the best performers. Morocco more than doubled its new car sales between January and March when compared to the same period in 2020.