Women driving new sales for Porsche
The luxury automaker's sales to female buyers have doubled in the US over the past 2 years and now make up 15% of overall sales in North America.
Porsche is off to a strong 2013, with year-to-date sales already up by 30%. Some of that growth may come from longtime customers who know the company produces reliable, well-engineered machines.
But those aren't the only people buying.
"One factor is that we're seeing more women buying and driving Porsches," CNBC's Phil LeBeau reported Friday.
Porsche sales to women have doubled in the U.S. over the past two years and now make up 15% of overall sales in North America.
The company has expanded its marketing to women, LeBeau said. Rather than directly targeting them, Porsche is broadening its advertising into new publications and media to grow brand recognition.
LeBeau said more women may discover the brand because of its SUV and the new Macan CUV that's coming out next year. "It may not be perceived as a woman's car, but increasingly it is," he said.
The report showed Chicago resident Jody Verson driving a white Porsche Cayenne.
"My image of Porsche was a fast car for guys to drive that should probably be on a race track, not really a woman's car," she said in the report.
Porsche is not the only luxury manufacturer whose sales are up this year. Lamborghini's sales increased by 34.9%, Ferrari's by 14.1% and Bentley's by 9.7% year to date, according to the report.
Faris Nijim, a sales manager at the Porsche Exchange in Chicago, said women are evaluating several luxury brands.
"What we see in the last year here at the Porsche Exchange is . . . women coming in not only with their husbands but alone, on their own, as the primary decision maker," he said.
There's a common misconception that Porsches are for middle-aged guys who want to show off their wealth, LeBeau said.
"The truth of the matter is they have been ranked at the top of J.D. Power reliability surveys for a number of years," he said. They are "well-engineered, great-handling vehicles."
Porsche also earned the highest score in an owner satisfaction survey from J.D. Power's this week. It topped the list last year as well.
Funny how some say we are in the Worst Economy Ever yet all the Luxury Car Makers are having Record Sales.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The stock market ended the holiday-shortened week on a mixed note as the Dow Jones Industrial Average shed 0.1%, while the S&P 500 added 0.1% with seven sectors posting gains.
Equity indices faced an uphill climb from the opening bell after disappointing quarterly results from Google (GOOG 536.10, -20.44) and IBM (IBM 190.04, -6.36) weighed on the early sentiment. Google reported earnings $0.15 below the Capital IQ consensus estimate on revenue of $15.42 ... More
More Market News
Serious issues like drought and the deterioration of the developed world spell opportunity for this industry leader.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'