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Core Viewpoint - Porsche China has officially terminated the dealership authorization for the Zhengzhou Central Porsche Center, marking a significant shift in the luxury brand's distribution strategy in China [2][4]. Group 1: Incident Overview - The closure of the Zhengzhou Central Porsche Center began with a sudden "clearance" event on December 23, 2025, where vehicles were removed from the showroom, and staff went missing, leaving customers unable to retrieve their vehicles or service packages [3]. - The Zhengzhou Business Bureau and local police initiated investigations, suggesting that the closure was likely due to a financial crisis [3]. - On December 25, Porsche China apologized to customers and committed to protecting consumer rights while investigating the situation [4]. Group 2: Company Response - On January 5, 2026, Porsche China confirmed the termination of the dealership agreement due to serious violations and damage to brand reputation, while also outlining solutions for affected customers [4]. - Customers can transfer their service packages to nearby dealerships, but self-issued packages by the dealership are not included in this transfer [4]. Group 3: Market Context - The termination of the Zhengzhou dealership is part of a broader trend of channel contraction among luxury brands in China, with Porsche planning to reduce its sales outlets from 150 to around 80 by the end of 2026 [7]. - Financial reports indicate a significant decline in Porsche's profitability, with operating profit dropping from €4.035 billion in 2024 to €0.04 billion in 2025, and a sales return rate plummeting from 14.1% to 0.2% [7]. - The overall sales volume for Porsche decreased by 6% globally, with a staggering 26% drop in the Chinese market, highlighting the challenges faced by luxury brands in adapting to market changes [7]. Group 4: Industry Trends - Other luxury brands, such as Mercedes-Benz and BMW, are also undergoing strategic network reductions to enhance efficiency and profitability in response to market pressures [8]. - The closure of the Zhengzhou dealership serves as a warning for luxury brands to optimize their channel strategies while balancing scale, efficiency, brand reputation, and consumer rights [8].