The Xiaomi Mi SU7 car is called the ＂Mi Shijie＂, what does Porsche think？ The response is coming

　　"For the similarities between the Xiaomi SU7 and Porsche, I think maybe good design is always in harmony," Michael Kirsch, president and chief executive of Porsche China, said in an exclusive interview with Chinatown during the 4th Consumer Goods Expo on the 14th.

　　In the first quarter of this year, Porsche delivered 16,340 vehicles in China, a decrease of 24% year-on-year. According to Kershimai’s analysis of Zhongxin Matrix, the reasons for the decline in sales are various. There is a time interval between the launch and delivery of new products, and Porsche insists on the strategy of "quality exceeds quantity". In addition, there is a staged rebound in sales after the epidemic in the same period last year, which makes the year-on-year base higher.

　　Personalized customization needs to increase

　　Porsche entered the Chinese mainland market in 2001, and in 2015 the Chinese market became Porsche’s largest single market in the world.

　　However, by 2023, Porsche’s global sales are about 320,000, an increase of 3% year-on-year, of which the total delivery in the Chinese market is 79,283, a decrease of 15% year-on-year. In the first quarter of this year, Porsche’s sales decline in the Chinese market once again attracted attention.

　　Porsche delivered a total of 16,340 new cars to Chinese customers in Quarter 1, according to Cramer. The main reasons for the year-on-year decline are: the time interval between new product launches and deliveries, and Porsche’s adherence to the "quality over quantity" strategy. Coupled with a staged rebound in sales after the epidemic in the same period last year, the year-on-year base was higher.

　　It is worth mentioning that in Quarter 1 this year, Chinese consumers’ investment in personalized options increased by 22% compared with the same period last year, indicating that the demand for personalized customization in the Chinese market is increasing, especially among young consumers. Among the new cars delivered by Porsche 911 and 718 models in the first quarter, the proportion of customized vehicles reached 30%, reflecting the strong demand of consumers for customizing their exclusive two-door sports cars.

　　When considering the current consumer trends in China’s luxury car market, several notable changes and trends are worth noting. According to Cramer, more than 70% of Porsche’s Chinese customers are self-employed entrepreneurs and are more cautious about spending during the economic recovery period. At the same time, Generation Z has become the main consumer group, accounting for about 15% of the market.

　　Unlike previous consumers, Generation Z focuses more on value for money, quality, design, uniqueness and cultural attributes, rather than just price awareness. In addition, the luxury car market is affected by the rapid expansion of new energy models, showing a more diverse and dynamic development characteristics.

　　How does Porsche view the "Misssche"?

　　On March 28, after Xiaomi Motor launched the SU7, it was ridiculed by netizens that the car looked like Porsche and called it "Mi Shijie". Lei Jun, the founder of Xiaomi Motor, said at the press conference that Xiaomi Motor wants to build a Dream Car comparable to Porsche and Tesla.

　　After the launch of the Xiaomi car, Porsche’s official live stream was also very lively. In response, Ke Shimai told Zhongxin Jingwei, "I think maybe good design always has the same heart when it comes to the similarities between the Xiaomi SU7 and Porsche."

　　He said that Porsche follows the brand’s unique design aesthetic and the creed of "design follows function", which has formed a clear brand identity over the past 75 years. Porsche has always adhered to the spirit of innovation in Product Research & Development and adhered to rigorous and meticulous standards in product manufacturing. "We expect companies that apply the same standards or even higher to compete with us in a fair, just, honest and legal manner."

　　In addition, he said, Porsche is pleased to see that electric vehicles place greater emphasis on handling and performance, and that consumers can understand vehicles in more dimensions than just transportation. "Porsche is a pure sports car brand, and we have always emphasized’iconic Porsche performance ‘, which is the result of a systematic research and development innovation, rather than a single-dimensional product performance. Porsche’s defined performance needs to meet a series of criteria at the same time: stable output under extreme operating conditions, durability and driving texture, as well as aerodynamic and lightweight design, sporty body posture and driving posture, driver-centric cockpit, etc."

　　The first batch of pure electric Macan new cars was delivered in the fourth quarter

　　Porsche’s new all-electric Macan is about to be unveiled at the Beijing Auto Show, attracting widespread attention in the industry.

　　As the second pure electric vehicle series of the Porsche brand, the industry believes that the pure electric Macan may be a new growth point for Porsche in the Chinese market. In this regard, Ke Shimai said that the feedback on this new model is very positive. At the upcoming Beijing Auto Show, the pure electric Macan will announce the price and meet the public. The first batch of new cars is expected to be delivered to customers in the fourth quarter of this year.

　　Mr. Krishman notes that the automotive industry is undergoing its biggest transformation ever, with all-electric models in different markets around the world moving at different paces. Porsche continues with its electrification strategy.

　　In terms of electrification strategy, Porsche is accelerating its layout, aiming to reach more than 80% of new car deliveries by 2030. Ke Shimai said that Porsche closely monitors the development trend of pure electric models in the global market and maintains a flexible positioning for future market changes. By the end of 2023, the number of pure electric and plug-in hybrid models introduced by Porsche to the Chinese market has increased to 27, and new energy models account for 16% of Porsche’s new car deliveries.

　　He revealed that this year, Porsche will also launch a number of new models, including the new Taycan and the all-new electric Macan, as well as the Panamera, Macan, Taycan, and 911 model series that are undergoing updated iterations.

　　Mr. Cramer said 2024 was a big year for Porsche, with four of the six car series being updated. "The number of new models introduced will be higher than in any previous year, which will lay a good foundation for future development."

　　With the start of the "price war" once again, Chinese new energy vehicle companies are focusing their efforts. In the face of multiple challenges, what are Porsche’s response strategies? In this regard, Ke Shimai said that in the wave of electrification, Porsche will adhere to the uniqueness and leading advantages of the brand, adhere to the principle of "quality is greater than quantity", and provide Chinese consumers with new energy products and supporting services with excellent sports performance and extreme driving pleasure.

　　Wen: Yan Shuxin, Liu Xueyu