Feb. 23, 2012 (China Knowledge) - Jebsen Group, a leading Chinese dealer of luxury sports car Porsche, has announced plans to spend RMB 468 million or US$74.37 million on domestic market expansion over the next two years.
According to the plans, the company is scheduled to open four outlets in Beijing
by the end of 2013, as well as double the size of its existing auto gallery in Hong Kong
and remove another store in Macau
for a larger place within four months.
Last year, Jebsen sold 6,662 Porsche, accounting for 27% of the total Porsche sales in Great China.
Porsche SE, the German-based luxury sports car maker, currently has about 40 distributors, including Jebsen, in China and intends to open its first regular chain in Beijing
next year, also the city's fourth Porsche store.
China saw a strong demand in luxury car industry with sales growth exceeding 40% in 2011, compared with an increase of only 2.45% in the country's passenger vehicle market, said analysts.