Source AP ©

Porsche names new managing director for China unit

Helmut Broeker will replace Mark Bishop as the managing director of Porsche China, the company said Tuesday.

Broeker, 50, who is joining the company from BMW AG, has spent more than two decades in the automotive industry, working in Asia, Australia, the United States, Africa and the Caribbean.

The company said Bishop, 53, was leaving the company, having been in China since 2005 after transferring from Porsche Middle East.

In that time, the number of Porsche dealers in China has grown from five to 18, with three more planned.

While the sheer number of sales are not as high as in the United States or Europe, China is a key market for the company, given the rising wealth of its residents and demand for luxury sports car. In its last fiscal year, Porsche said it sold 3,105 cars in the country, nearly doubling the number sold a year earlier.

Shares of Porsche were up nearly 0.4 percent to EUR1,853.59 (US$2,667.50) in Frankfurt trading.

Comments
Capital outflow from Russia sets new records
Russia close to recognising Donetsk and Luhansk republics after Donbass elections
Russia's game in Libya
US midterm elections: Impeachment unlikely, Russophobia getting stronger
Capital outflow from Russia sets new records
Russian PM threatens not to go to World Economic Forum in Davos
Russian PM threatens not to go to World Economic Forum in Davos
Russia close to recognising Donetsk and Luhansk republics after Donbass elections
Presidential and midterm elections in the USA change the 'American project' entirely
Presidential and midterm elections in the USA change the 'American project' entirely
Russian scientists develop technology to create HIV resistant human embryos
Russia rips its economy apart with help from the West
Russia close to recognising Donetsk and Luhansk republics after Donbass elections
Russia close to recognising Donetsk and Luhansk republics after Donbass elections
Moving inexorably towards war
Russia rips its economy apart with help from the West
Austria will not ruin its friendship with Russia despite spy scandal
World War I: Remembering the fallen, and the war criminals
Norwegians complain of demoralised NATO soldiers
Russia rips its economy apart with help from the West
MP suggests replacing Lenin's mummy with rubber figure