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Customer LoginsPorsche Macan: de-nichification continues
The Porsche Macan, Porsche's all-new small crossover revealed last week in Los Angeles and to be launched in the U.S. next spring, should be a "slam dunk," given the landscape of today's new vehicle market. The small luxury crossover segment is one of the fastest-growing in the industry, with registrations more than quadrupling since 2008 and share of industry up by almost the same amount (see table below).
The number of small luxury crossovers in the market has doubled from four in 2008 to eight today. This category is now the fourth largest (of twelve) in the luxury space after compact and midsize sedans and midsize crossovers. Customers buy more small luxury crossovers than all premium sports cars combined. Further, the issue of Porsche's expansion from a coupe-only sports car franchise to a coupe-sedan-light truck brand was addressed and overcome with the successful launches of the Cayenne and Panamera several years ago. The fact that both of these models have become significant contributors to Porsche's recent sales gains has rendered this controversy moot, at least from a sales and share perspective (more on this below), paving the way for what should be a smooth launch of the Macan.
While the Macan is built on the Volkswagen MLB architecture that underpins both the Q5 and A4, this is not a rebadging situation. The Macan shares only 20% of its parts with the Q5. The styling of the Macan is all Porsche, borrowing cues from the 911, Boxster and Cayenne. The Macan is lower, wider, and has a more sleek, fluid appearance than the boxier Q5. The Macan's powertrains are also all Porsche: available engines include a 3.0 liter V6 twin-turbo generating 340 horsepower and a 3.6 liter V6 turbo providing 400 horsepower.
The Macan will be priced above most other small luxury crossovers, with the base version starting at $49,900 and the turbo at $72,300. At these price points, the Macan will face off against the Land Rover Evoque more than the lower-priced RDX and others. Macan's healthy price points should not inhibit sales, though; a Porsche is a Porsche and carries cache few others can match.
Porsche is far from the only luxury make to expand from its core niche to new and lucrative parts of the market. Bentley, Jaguar, Lamborghini and Maserati all have crossovers in the pipeline and Porsche itself has yet another incremental model, the Pajun (a smaller version of the Panamera), coming in the next few years.
Even though Porsche has enjoyed sales and share increases because of the successes of the Cayenne and Panamera, it's not clear-cut that these models have not impacted the make's image. Does a 60-year old who grew up with the 911 and other Porsche coupes have the same view of Porsche as today's 30-year old, who has grown up with the Cayenne and Panamera as well as the sports cars? The answer to that question is not a slam dunk, in my opinion.
Tom Libby is manager, loyalty practice and industry analysis, IHS Automotive
Posted 25 November 2013