保时捷潘励驰：以长期主义赢回中国市场

Core Viewpoint - The luxury and high-end car market in China is experiencing a significant downturn, with a decline of 28% expected in 2025, while the super-luxury segment (>1 million yuan) is projected to drop by approximately 23% [1] Group 1: Market Performance - In 2022, Porsche delivered 42,000 vehicles in China, reflecting a year-on-year decline of 26.3%, nearly halving from peak sales [1] - The downturn is attributed to macroeconomic fluctuations, evolving customer demands, and intensified competition from domestic brands [1] Group 2: Strategic Adjustments - Porsche's CEO emphasized that 2026 will be a pivotal year for recalibrating and regaining market share in China, focusing on quality over quantity without setting specific sales or profit targets [4] - The company plans to shorten R&D cycles and launch new products, including an all-electric Cayenne at the Beijing Auto Show and more models tailored for the Chinese market [4] Group 3: Compliance and Safety Standards - The Ministry of Industry and Information Technology has revised the review requirements for automotive enterprises, effective January 2027, raising standards for R&D capabilities and production consistency to mitigate safety and quality risks [6] - Porsche maintains three core principles during its electrification process: prioritizing safety, centering on driver experience, and ensuring the availability of a steering wheel regardless of the level of autonomous driving [6] Group 4: Retail Strategy - To address declining sales, Porsche will reduce its dealership count to 80, focusing on enhancing quality and efficiency rather than expanding service [7] - The revamped 4S stores will integrate new car sales, used car business, and after-sales services, optimizing the customer experience [7] Group 5: Used Car Market Expansion - Porsche aims to expand its used car business, capitalizing on the projected growth of China's used car market, which is expected to exceed 20 million transactions in 2025 [9] - The company has allocated significant space in its dealerships for displaying used cars, aligning with market trends [9]