Porsche confident in China's growth prospects

German premium carmaker Porsche expects China's premium vehicle market to grow further this year, after the segment hit a record high in 2020 despite the COVID-19 pandemic.

Jens Puttfarcken, president and CEO of Porsche China, said he estimates the segment to continue the momentum this year. He made the remark in an interview following the carmaker's annual press conference late last week.

In the first two months of this year, it sold 13,910 new vehicles in the country. That was a surge of 54 percent from the same period of 2020.

Since September 2020, Porsche has maintained a double-digit growth in sales in China.

Last year, the carmaker delivered 88,968 new vehicles in the country, up 3 percent year-on-year, through 134 sales outlets across the country. This helped boost Porsche's global performance.

Statistics show that Porsche achieved record revenues of 28.7 billion euros ($34.14 billion) in the fiscal year 2020. In total, it delivered more than 272,000 vehicles to customers worldwide, down by 3 percent compared to the company's best year ever in 2019.

China has been the largest single global market for Porsche for six years in a row.