Porsche's Electrified Cayennes Are Helping to Clear the Air in Thailand

For years, excessive import taxes levied on automobiles have stymied any widespread market growth for manufacturers in Thailand, but with the electric vehicle movement in full stride around the globe, the tide is changing in the SE Asian nation.

Led by Thai Prime Minister Prayut Chan-o-cha's policy to incentivize buyers of electrified vehicles, import taxes on vehicles that once reached 80% of the vehicle's value have now been reduced to 0% for EVs in some cases and subsidies exist to help lower the initial cost for buyers as well.

One of the big beneficiaries of the policy has been Porsche, as Thailand has become a major destination for the sporty automobiles.

Porsche Thailand managing director Peter Rohwer says, “Thailand is Porsche’s largest market in South East Asia, and the second best market in the world (after Norway) for electrified Porsche Cayenne vehicles, which is a big achievement.”

According to the Bangkok Post, 70% of the Porsches sold in the Kingdom last year were hybrid-powered Cayenne SUVs. In addition, despite the pandemic, Porsche sales in 2021 were up 56% over 2020 and 51% overall in the Asia-Pacific region, with the Taycan EV selling particularly well.

Rowher also reported that Porsches in Thailand are attracting a younger entrepreneurial crowd and a large percentage of Porsche buyers (35%) are women. “In the past, the average age of Porsche buyers was 55 years old but today it has dropped to 42, which means that there are a lot more customers out there. Entrepreneurs are becoming younger and they like a strong image when it comes to the cars they drive," he stated to Thaiger Media

Rowher also states the region has been on the German automaker's radar for its large customer base and availability for much needed EV battery resources; so much so that earlier this year Porsche began assembly of the Cayenne in Malaysia.