Porsche steps up drive to expand in new markets

Porsche is looking to enter 15 new countries by the end of the decade, mainly in Africa, as part of its growth strategy.

"We're covering new markets where we have not been in yet," Bernhard Maier, Porsche's global sales chief, said at the opening of its largest dealership in the world. "We're aiming to go into an additional 15 countries by the end of the decade."

Maier said Porsche would look to north Africa, without specifying which markets.

Expanding into new countries would help Porsche reach its goal of selling more than 200,000 vehicles a year in 2015 or 2016.

Porsche accounted for €1.29 billion (HK$13.5 billion) of parent Volkswagen's first-half operating profit of €5.78 billion, making it the third-largest earnings contributor after Audi and the mass-market VW brand.

The firm was also looking for growth through new model lines, such as the Macan compact sport utility vehicle, which would be used to "better exploit" all markets, Maier said. The Macan will be sold from next year.