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31 Dec 2022
After 15 years of operation in Vietnam (2007-2022), Porsche upgraded the new Porsche Saigon Center to LEED Gold standard, aiming to sell pure electric cars and PHEVs, and promote Porsche Destination Charging model global charging grid.
Vietnam is a potential market for Porsche
In 2007, Porsche started doing business in Vietnam and it is now one of the most vibrant markets for Porsche globally and in the region. But when it comes to building its first factory in the Southeast Asia, the German car company chose Malaysia (to start assembling cars in 2022). However, when manufactured in Malaysia with an internal localization rate that meets the government’s regulations (from 40% or more), the price of Porsche cars to Vietnam will be exempt from import tax, thereby contributing to reducing significant price compared to cars imported from Germany.
In 2022, marking the 15th-year milestone in Vietnam, Porsche has sold 750 vehicles, joining the group of markets in Asia Pacific, Africa, and the Middle East with sales of 121,641 vehicles (up by 4% compared to same period in 2021).
Porsche is also a pioneer in bringing pure electric luxury cars to Vietnam, starting with the Taycan model in October 2020 with a selling price of 5.72 – 9.55 billion VND.
Opportunities and challenges with Porsche in Vietnam
In the coming time, Porsche continues to have the potential to increase sales in Vietnam by providing sports cars that meet the needs of customers who are passionate about speed and luxury. The Vietnamese economy continues to grow, so more and more customers have financial conditions to buy Porsche cars. Moreover, the price of Porsche cars may decrease when the source of cars from the factory in Malaysia is brought to Vietnam.
However, sales of Porsche electric cars in Vietnam are difficult to have any breakthroughs in the coming years unless the travel range is improved (like the Taycan currently only reaches 460km after each charge). At the same time, expanding the Porsche Destination Charging model (the brand’s global charging network with partners) is a must, because charging station infrastructure in Vietnam is still in its infancy.
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