Customers immediately responded with deposits. Porsche was not happy.
A Porsche dealership in China mistakenly listed a brand new Panamera for a bargain price of 124,000 yuan, about $18,000, despite its actual price tag of 998,000 yuan ($148,421).
Not surprisingly, the Yinchuan, China dealer immediately began receiving a flood of deposits from anxious buyers hoping to score a fantastic deal. The advertisement, first reported by Bloomberg, was obviously too good to be true, but that didn't stop people from trying.
The dealer quickly realized what had happened, took down the information, and admitted the mistake. Porsche's Stuttgart, Germany headquarters was almost immediately notified of the embarrassing situation. Members of the Chinese social media platform, Weibo, were also talking about the price and were obviously disappointed when the dealer made the correction.
Porsche, however, wanted to avoid any additional backlash, so it decided to try and make things right. It reached out to the first person who made an online reservation and "negotiated an agreeable outcome" for the one Panamera the dealer had in stock. It refused to elaborate further, but it's clear one fortunate individual got a pretty good final price, though not $18k good.
Porsche went above and beyond to remedy the situation with other hopeful online buyers by reaching out to them personally to explain what had happened and to apologize. It promised to refund their reservation fees within 48 hours.
Porsche is a hugely popular automaker in China, with sales in the first half of 2022 reaching a whopping $6.2 billion.
For all of 2022, the German automaker sold almost 94,000 vehicles in the world's largest automotive market. That was down from nearly 96,000 units the year prior because of supply chain issues related to the global pandemic. In the US, Porsche set a sales record in 2022.
China has been Porsche's largest single market for several years, and that's unlikely to change. It's been selling cars there for over 20 years. Globally, the Cayenne is the carmaker's most popular model, with 95,604 units sold in 2022. The smaller Macan SUV follows it with 86,724 examples delivered.
The legendary 911 outsold the Panamera with 40,410 units versus 34,142. Taycan deliveries totaled 34,801 units, a 16% decrease from 2021, while the 718 Boxster/Cayman saw 18,203 vehicles sold.
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