Porsche Expecting Strong Taycan Sales In India Despite $370,000 Price Tag

The Porsche Taycan will go on sale in India next year and, despite an astronomical local price that can reach the equivalent of US$370,000, Porsche has high hopes for it.

Bloomberg reports that, due to registration fees, GST, and local custom duties, the price of the Taycan will skyrocket in the local market. According to director at Porsche India Pavan Shetty, though, wealthy Indians will reportedly be happy to spend extraordinary money on an electric car to make a statement about protecting the environment.

“After introducing three new products this year, we plan to launch our all-new electric car Taycan next year,” Shetty said. “We’re entering a phase where the rich are necessarily global citizens. If you own a Porsche, you don’t need an introduction. You’re already someone, it becomes your identity… We all want to be responsible, and the rich and the successful people have an option and the resources.”

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India is a very small market for Porsche. In fact, it only sells 350-450 cars annually in the Asian nation, but believes the upcoming launch of the Cayenne Coupe later this week and the Taycan in mid-2020 will boost this number.

Electric vehicle powerhouse Tesla has so far ignored the Indian market, citing the huge local duties. According to Shetty, Porsche wants to do greater business in the country and won’t let these duties stop them from doing so.

“That is Elon Musk’s problem,” Shetty said. “We are not a blind volume chaser. You can’t change the laws of the land. The question is do you want to do business or do you not want to do business. I want to do business.”