While luxury auto manufacturers pump out lower-end models to keep afloat in a turbulent economy, Porsche is decidedly taking a different route, announcing that they don’t plan on coming out with a model under the Boxster.
In an interview with Automotive News, Porsche’s sales chief said that he is still intent on doubling sales, but won’t tarnish the brand’s name by creating a new model with a lower price point.
The expansion of luxury lines has been a success for some companies; BMW’s sales soared with the addition of the 3 Series.
The minimum amount a customer will pay to get into a brand new Porsche Boxster is $49,500, and this year, Porsche sales are up by 2.7 percent. Along with all other luxury automakers, Porsche is growing quickly in Asia, which will fuel much of its growth.
Sticking with higher price points can work in the luxury car industry, especially for a brand that has created such an iconic niche.
Source: The Street; Photo: Porsche
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