Porsche Hungary’s last year turnover was EUR681 million, up almost 14% year-on-year, while Porsche Holding Romania’s turnover hit EUR632 million, up 5% from the previous year. The EUR632 million includes the revenue created by the importer, the revenue of the six Porsche Romania dealers and the revenue of Porsche Bank.
By 2010 car sales, Porsche Romania still ranked third, after the Austrian and French branches, and second by sales of Volkswagen brands, with almost 25,600 units, 8% more than in 2009, while almost 21,300 units were sold in Hungary, up 7.5% year-on-year.
“Unfortunately, we are struggling to defend our second position behind Austria in terms of sales of Volkswagen group brands, since the decline was a steep one. However, after Austria, the Romanian market has the highest potential,” stated Brent Valmar, general manager of Porsche Romania, the largest local importer. Valmar is also the vice-president of the Association of Automotive Manufacturers and Importers (APIA).
The Romanian market still has the highest potential in the region, since even during a crisis year such as 2010, almost 330,000 cars were registered, including around 214,000 used cars, imported from Western Europe.
Official statements on possible pollution tax modifications and the clunkers program being delayed by three months have hindered the market’s rebound, but these are not the only things keeping a lid on the market.
“An element of stability is welcome and, if know the car tax is set and will not be changed again, things can be expected to settle down, but this is not the reason why the domestic car market is still suffering. The main reason is the falling consumer spending,” said Porsche’s executive.