Interview: Martin Limpert for Porsche Asia-Pacific
Men’s Folio takes a look at the vision and ambitions of Porsche’s managing director for the Asia-Pacific region.
Martin Limpert, managing director of Porsche Asia Pacific, shares his take on the luxury market and how the brand is working to strengthen its presence in the region.
Youāve been in the luxury business for quite a number of years. How has the market evolved, what has changed?
Weāve definitely seen changes. It doesnāt just apply to the automotive industry; the fashion industry has changed, and even our general perception of luxury lifestyle has changed. For example, we have more options in terms of luxury goods, thatās probably one of the biggest changes in the market. Thereāre more and new brands entering the market vying for a piece of the luxury pie in the segment, while existing brands try to secure a bigger footing by expanding their portfolios with more products targeting the well-heeled consumers. Moving beyond premium quality materials, companies are offering more personalization services and options to customize your vehicle. At Porsche, we want to offer the option for our customers to personalize his/her car. From colors to equipment options and accessories, this so-called āmade-to-measureā service is becoming very popular in the automotive industry.
The word āluxuryā gets tossed around quite frequently, and gets tagged on to practically every product and service. Whatās your take on luxury?
I think the concept of luxury varies from one person to another. Personally, I think itās the ability to express yourself, whether in the consumption of good and services, or doing what you like. It could be in the form of a reward. Weāve seen people who have achieved success reward themselves with things that they might not have indulged in previously, from the types of products and/or services they consume to embarking on a certain lifestyle. Luxury is also having the means to satisfy certain needs or desires.
Letās talk about the Asia market, despite the slowing down of demand in this part of the world, particularly China, the numbers for Porsche remain optimistic. As a luxury brand expands, volume increases, and luxury goods become abundant. Is there such a thing as mass luxury?
Thatās a very good question. If we look at the overall market, itās estimated that 70-80 million cars are sold in the market worldwide. As for us, we have slightly below 200,000 cars last year. We are in the vicinity of 0.025 per cent of the overall market worldwide, and thereās potential for growth. Besides my take on luxury is about having the means to fulfill oneās desire. It doesnāt matter if you are at the point in life when youāve just acquired your first Boxster or Macan, you are fulfilling something at that point in your life. Exclusivity is a part of the luxury equation. Itās not only defined by numbers but really by a lifestyle.
Even if a brand is at a level to achieve a certain volume, we have stepped up the experience with possibilities to personalize your vehicles. For example, you can choose to match the color of your car to that of your wifeās nails or choose the stitching inside your Macan. You can also splurge a little and opt for a bigger turbo engine with an output of 400hp. There are actually no limits for exclusivity even on the entry models, or any of the Porsche products.
The Volkswagen Group is a dominant player in the automotive industry, each of the brands under the groupās portfolio have expanded its offering to fill certain niches in the market. Whatās your strategy to strengthen the brandās standing in the market?
Porsche has a long history and success building luxury sports cars. Our approach is to offer the sportiest car in whatever segment we are present. It doesnāt matter if itās the two-door rear-engine segment with the 911, the two-door mid-engine segment with the Boxster Cayman, or even our smaller SUVs like the Macan. This is in our genetic code ā we are born on the racetrack. This is part of our strategy. We have the expertise, technology, and know-how to prove that you can have āthe cake and eat itā. Performance and sustainability doesnāt have to be mutually exclusive. The Porsche 919 Hybrid is a case in point. We are able to transfer the knowledge that we gain on the racetrack into our production cars across all models.
Our philosophy at Porsche is āCar for life, Customer for lifeā, so whenever somebody steps into the world of Porsche as a customer, letās just say we want to keep them for life. Say, someone new to the brand enters into the Porsche world with a Boxster, as he moves up in his career, and decides to reward himself, we have the Boxster S waiting, followed by the 911, etc. This is how we keep up with them and keep them for a very long period of time. In a different scenario, someone ā like a young, urban professional, or a young married couple ā can pick our entry model Macan as their first luxury SUV. It is a vehicle that would fit their lifestyle ā weekend golfing, hiking, or biking. But as their families grow with kids, they can upgrade to a Cayenne. And when their kids grow up, they might want to go back to a nice luxury sedan like the Panamera. Itās a long-term plan, and we are ready for it.
This article was originally published in Menās Folio Magazine April 2016