Blog

Growth in Africa = Porsche 911's

The growth in Africa is massive! No doubt. And it will get even bigger. Just to give you an idea; Nigeria, Africa's second biggest economy, grew 7.68 percent in the last quarter of 2011, which makes it one of the fastest growing economies in the world. Now it's just a question of who will get the biggest profit and who will capture the market shares first. The continent's middle class is growing and the demand for goods such as cars, technology, clothes etc. is huge.

With a negative growth in Europe, luxurious goods producers are increasingly targeting sub-Saharan Africa, because of its economic growth. Porsche, Samsung, Gap and many more have started looking at this massive market. They too see the potential that lies here.

Porsche already sells 800 cars annually in South Africa and with the opening of a Nigeria dealership in the wealthiest area of Nigeria, Victoria Island  (a place with one of the world's highest concentrations of millionaires) the 2012 target is to sell 100 super cars. If you're interested in getting one for yourself, average prices currently range between 21 million naira (approx. $135.000) to 30 million naira (approx. $191.000). Porsche also plans to set up a dealership in Abuja, where roads are newly built - maybe a better market for the 911 model. I wonder if they will sell any E-Boxsters in Africa...

Share this page: email + facebook + twitter