Porsche Romania invests €60 mln in 2008 to expand sales network

Porsche Romania, largest local car importer, plans to invest €60 million to expand its sales and service networks by 30 units, according to a statement for Business Standard by General Manager Brent Valmar.

The company expanded its sales network by 12 units last year. The Porsche Group is made up of 4 companies: Porsche Leasing, Porsche Bank, Porsche Insurance Broker, and Porsche Mobility. Porsche Leasing is expecting to finance €250 mln in 2008.

Porsche Romania auto sales increased last year by 35 percent, up to 59,000 cars. For 2008 the company estimates a 10 percent rise in sales, up to 65,000 cars. Its main competitors include Tiriac Holdings, with 38,100 cars sold, Renault Nissan Romania (34,266 cars sold), and General Motors Southeast Europe (32,775 cars sold).

General Motors Southeast Europe plans to spend €20 mln to expand its Romanian sales network to 43 dealers. Renault has 46 dealers in Romania, while Tiriac Auto has 12. Tiriac Auto is currently building 2 auto malls in Bucharest and Timisoara, with the total investment for these projects to be worth €20 mln.

The Romanian auto market could increase by 10 percent in 2008, up to 400,000 cars.

Business Standard