On 22 February, Porsche China announced the results of the company's performance for the past year: in 2021, China became The world's largest single market with 95,671 new car deliveries for the seventh consecutive year. The diversified dealer network has gradually upgraded and expanded, and financial services, changing cars, online retail and other businesses have made great progress. The electrification strategy is in full swing, and digitalization, innovation and sustainability are important focus points for Porsche to build its core competencies in the future.
"In 2021, under the influence of many uncertainties such as the global COVID-19 epidemic and chip supply shortages, Porsche has brought the brand to a successful conclusion in the 20th anniversary of the Chinese mainland with a new record year. We are pleased to have made history again and are proud of the many milestones we have made over the past year. Dr. Boyu Yan, President and CEO of Porsche China -Ing. Jens Puttfarcken) said. "Porsche has entered the electrification fast lane, and we will make every effort to promote the transformation, accelerate the localization of the digital intelligence field, and lead the new era of exclusive sports travel with an electrified model with great sensual charm."
Steady progress Product business multi-dimensional and high-quality development
In 2021, Porsche delivered 95,671 new vehicles in the Chinese market, an increase of 8% year-on-year. The continuous iterative optimization of the product lineup is the source of steady growth. Among them, the SUV model continues to be the best-selling model in the Chinese market, and the medium and large luxury SUV Cayenne is on a par with the sales performance of fashion pioneer Macan. The panamera remains in high demand, with new car deliveries up 26% year-on-year, with the Chinese market accounting for more than half of the world's total Panamera sales. At the end of last year, five new platinum versions based on the three power versions of the Panamera were officially released, further meeting the expectations of Chinese consumers. In particular, it is worth mentioning that the influence of the two-door sports car in the young consumer group is also increasing, and the legendary sports car 911 has increased by 67% year-on-year, achieving a high level of double-digit growth for two consecutive years. The mid-engined sports car 718 continues its leadership in the segment with a market share of 74%. In addition, Porsche's first all-electric sports car, the Taycan, has continued to receive positive feedback from the market since its launch, with four spin-off models currently launched in China and a record delivery of 7,315 units in 2021.
Porsche's diverse dealer network continues to expand. By the end of last year, Porsche had 140 sales outlets in China, of which 6 were added in 2021. Porsche Centre Guangzhou Baiyun, as the first new concept store in Asia to open at the end of last year, is expected to be extended to 20% of Porsche Centres by the end of 2022. In addition, Porsche China is also deeply engaged in the financial business and the changing car business, making the dream car within reach: Porsche financial services contracts signed more than 47,000 in 2021, an increase of 16% year-on-year, financial services market penetration of more than 50%, an increase of 3 percentage points from 2020; Porsche approved the trading volume of changing cars reached 7,501 units, an increase of 54% year-on-year, equivalent to 6 times that of 2016. Of these, 2,314 units of changed cars were online orders, accounting for more than 30% of total retail sales.
Porsche is not only committed to realizing its customers' sports car dreams, but also further extends its diversified business areas. In January last year, Porsche China's digital division became an independently operated company, Porsche (Shanghai) Digital Technology Co., Ltd., opening an important milestone in the brand's digital ecosystem construction in China. Porsche Asia Pacific Racing Trading (Shanghai) Co., Ltd. was also formally established in the middle of last year to provide more car purchase convenience for Chinese racing customers and promote the vigorous development of local motorsport culture.
Porsche has won the trust of countless consumers with its professional and reliable product and service quality, and has also obtained the authoritative certification of the industry for many times. In the research report of J.D. Power, the world's leading consumer insights and market research organization, Porsche won the "2021 China New Vehicle Quality Research (IQS) SM", "2021 China Vehicle Reliability Study (VDS) SM" and "2021 China Automotive Product Attractiveness Index (APEAL) SM". At the same time, Porsche Cayenne topped the reliability list of the "Large Luxury SUV" segment, and the Porsche Macan won the "Mid-size Luxury SUV" charm index for the fifth consecutive year.
Baigang piloted to speed up the electrification process
In the face of structural changes in the global automotive industry, Porsche is making every effort to accelerate the electrification process around the product and car ecology, and to create exclusive sports cars full of emotional appeals with unique brand positioning, providing Chinese consumers with a wealth of electric travel options. At present, Porsche has introduced a total of 16 pure electric and plug-in hybrid models to China, and the proportion of new vehicle deliveries of Porsche electrified models will reach 18% in 2021, an increase of 8 percentage points over the previous year, ranking first among traditional luxury car brands. The Porsche Taycan, with its powerful performance and excellent design, has helped the brand successfully expand its customer base, with 72% of Taycan users buying Porsche models for the first time, and generally have a high income and education background.
While consolidating its product offensive, Porsche is accelerating the creation of a customer-friendly e-drive vehicle ecosystem through fast and secure supercharging technology, a reliable and convenient charging network and intimate and intelligent services throughout the driving experience. In 2021, Porsche will continue to expand its charging network including home charging, premium charging, third-party charging, and destination charging to further meet the multi-scenario charging needs of electric vehicle users. In addition, Porsche is working with partners to strengthen the construction of service networks and optimize the organizational structure to deepen the e-mobility strategy, for example, to carry out system personnel training within the company and at dealer terminals, and to establish product management departments. In 2022, with the launch of Porsche R&D China, the electrification of the brand will be even more beneficial.
Take advantage of the momentum and deeply embrace China's innovation ecology
Under the wave of digitalization and intelligence in the automotive industry, the Chinese market has become the forefront of many car companies. Porsche actively embraces change, integrates deeper into Chinese society, focuses on digitalization, innovation and sustainability, and builds a new ecosystem of shared mobility. In terms of digitalization, Porsche further caters to market trends and accelerates the development of localization solutions in the three operational areas of "Product and Service Experience", "Enterprise and Dealer Management" and "Marketing and Aftermarket Models". Last year, Porsche China WeChat service account continued to optimize, now registered users have reached more than 100,000 people; POS (Ruida retail system) and DSS (Ruixiang service system) have been launched, bringing great improvement to the digital transformation of dealer terminals; online sales business has expanded rapidly, as of the end of last year, the number of user registrations of recognized changing car Mini Programs has reached nearly 1 million, and its business has accounted for 30% of the whole, effectively promoting the realization of Porsche's strategic goal of "omni-channel development". From 2022 onwards, the platform officially opens up its online ordering business for new cars, allowing Porsche to take it a step further in e-commerce.
Innovation is an integral part of Porsche's DNA, covering a wide range of areas from customers, products and companies to sustainability, even in areas other than mobility. In addition, Porsche pays close attention to domestic start-ups and innovation directions as a market sensor for discovering new technologies and trends. In 2021, Porsche Ventures deepened its layout in the field of virtual digital people and 3D printing in China, and strategically invested in a number of venture capital companies and startups such as iMaker and INTAMSYS.
As a pioneer in the field of sustainability, Porsche uses ESG (Environment Environment, Social Social Ethics, Governance Corporate Governance) as its guiding principle and framework to commit to carbon neutrality across the value chain by 2030. At the 2021 Guangzhou Auto Show, Porsche launched the "Green Project" pilot to track the carbon footprint of material consumption and related personnel and carbon offset, so as to achieve "zero carbon emissions" during the event. For Porsche, active corporate social responsibility also falls within the scope of sustainability concerns. In 2021, in the face of the sudden flood situation in Henan, Porsche immediately added 2 million yuan to the "Dealer Corporate Social Responsibility Fund" to assist in local emergency assistance and post-disaster reconstruction. To date, Porsche has donated more than RMB 70 million nationwide through the "Yicaixin" corporate social responsibility project, benefiting 520,000 people.
"The world is facing unprecedented and profound changes, and to thrive in the midst of change and uncertainty, both heritage and innovation are extremely important. For Porsche, we are confident that, at the time of the full advent of the electric car era, it will once again be known as a pure electric drive system full of drivers' emotional appeals. Dr. Yan Boyu said. Through an attractive product line- and upgraded service concept, an exciting brand experience and continuous in-depth efforts in important areas such as electrification, digitalization and sustainability, Porsche will continue to create a new legend of luxury sports cars. ”