Porsche will take a series of measures,Farabi (2020) Feneo Original Web Series including cutting the size of its dealership network and more investment in research and development (R&D), to win back market share in China by 2026, Alexander Pollich, chief executive of Porsche China said last week. Speaking to Chinese reporters on Dec. 11, Pollich confirmed reports that Porsche has set up an R&D center in Shanghai to develop a more tailored in-car system for Chinese consumers. The company also plans to reduce its dealership network from over 150 dealers in January to 100 by the end of 2026, while harnessing the power of word-of-mouth recommendations and established influencers to promote the brand. Sales of the German luxury carmaker declined 28.8% to around 43,280 units as of September this year, with the United States overtaking China as the firm’s single biggest national market. [TechNode reporting, the Economic Observer, in Chinese]
