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The newly rich young’s favorite
“Car owners in China average 35-37 years old, almost 10 years younger than a mature market.” My impression of Porsche owners was upended by what Mr. Franz Jung said. Without his introduction, I would’ve probably not been able to image Chinese Porsche owners are so young .
Lawyers, doctors, investment bankers, entrepreneurs……Porsche owners are not mainly upstarts or the second generation rich. Instead, they are mostly well-educated, experienced, mature and hardworking people who lived abroad and travel a lot.
What makes these newly rich young people willing to pay for a Porsche? According to an owner who got a Panamera at as early as 26 years old, he picked Porsche because of its social recognition, long tradition and brand essence, and it being a perfect match with his lifestyle.
A super-luxury reputation and relatively high prices are putting off some consumers. To better introduce Porsche to more young consumers, Mr. Franz Jung and his team has also made numerous efforts.
Through such events as rally races, vintage car exhibitions and fairs, and Porsche Carrera Cup Asia (PCCA), Porsche is talking to the new-generation leading young consumers about its history, so that more and more people will get to know and relate to the brand. “It takes a lot of time but one important part of knowing a brand is to know its history.”
What qualifies it as a dream vehicle? Special feeling, tradition, luxurious experience, social recognition-these are traits picked by Mr. Franz Jung in his mind. He chose 911 Targa as his dream car, “I personally like the Porsche brand because it is a sporty driving machine and also a luxury sports car, at once unique and extraordinarily practical.”
As the auto consumption market matures, so does the consumers’ mentality. They are increasingly cautious about auto investment and less inclined to buy because of brand. This highlights the importance of “bringing in the right product in the right time”.
For any carmaker, product is always its source of core competitiveness, and all of a business’s input is for making better products. “I have never been able to find my dream sports car: small and light; that’s why I decided to make one myself.” These are Ferry Porsche’s immortal words and a firm belief Porsche lives by.
What Porsche is doing now is developing and making industry-leading sports cars both in daily use and on racetracks, winning over the newly rich young people.[detail]
Franz Jung
Mr. Franz Jung, President and Chief Executive Officer of Porsche China, is responsible for corporate strategic planning and management at Porsche China (incl. Hong Kong and Macau).Working with Porsche since 2014 as Vice President of Overseas Regions and Emerging Markets, Mr. Franz Jung oversaw Porsche Australia, Porsche Japan, Porsche Korea and sales regions including Asia Pacific, Latin America and the Middle-East & Africa, and managed a considerable number of independent importers at the same time.Mr. Franz Jung has been working in the auto industry for more than 25 years across multiple markets, taking on numerous responsibilities ranging from sales, marketing, after sales, dealer development to strategic planning.
The newly rich young’s favorite
Cooking

Cooking

the culinary arts of processing food to add to its taste, look and flavor. Good cooking is about making attractive, fragrant, tasty, elegant, nicely presented and healthy food to satisfy palate and make nutrition easier to absorb. Mr. Franz Jung would cook for family and friends whenever he has the time, and he is particularly good at Mediterranean cuisine.
Balance between being dynamic and static
12% annual sales growth, 22% single model sales growth, the world’s fourth largest Porsche coupe sports car market, twice as many female car owners than mature markets……these data are the best footnotes for Mr. Franz Jung’s smile to the public.
Rapid product launch is the most direct driver of surging sales. The latest 911 model, the brand-new Panamera’s launch, and the debut of 718 Boxster and 718 Cayman, they all caused a sensation among consumers. The all-new Panamera administrative extended edition and the special 911, 718, SUV models, specially designed for the Chinese market, are more eagerly anticipated by potential buyers.
To seize on the new energy car and mobile internet frenzy, Porsche is acting rapidly on both fronts. The brand-new Panamera, put on sale at the end of last year, comes with the Porsche Connect module, a function to be shared by upcoming Porsche models. Within three years, the 500 mile-plus-range Mission E, its first pure-electric sports car, will begin mass production.
Of course, it didn’t stop here. After Los Angeles and Atlanta in the US, and Silverstone in the UK, A Porsche Experience Center near the Shanghai International Circuit is set to open soon as part of the efforts to raise Porsche’s profile among Chinese clients.
Mr. Franz Jung has been leading Porsche in moving ahead, seizing every opportunity along the way. Having seen the potential of the financial market, Mr. Franz Jung also pushed for the inclusion of financial policy service into Porsche’s development plan for this and the following year. He is keenly aware that to move is necessary, but so is being static. Apart to speed, what Porsche needs more is a balance between being dynamic and static. [detail]
Franz Jung Balance between being dynamic and static
Deep-sea fishing

Deep-sea fishing

an activity involving the use of fishing tackle such as fishing rod, hook and line to catch fish from deep sea. For Mr. Franz Jung whose work involves rapid decision-making, this hobby helps create good balance in life as it requires a great amount of patience.
精彩问答
  • 1

    Tencent Auto: If asked to, what keywords would you use to describe Porsche other than speed?

    Mr. Franz Jung: Product is at our core, and all our efforts are to build better products. Porsche’s racing cars boast both beautiful designs and unique engines. Porsche’s sports cars are regarded as some of the most supreme ones both on the road and racetrack. The Porsche brand itself is also one of the best brands in terms of design and engineering. Moreover, Porsche is still closely linked to the Porsche family. “Heritage” is another important keyword of the marque.
  • 2

    Tencent Auto: In future, how will Porsche help Chinese customers better understand its historical and cultural roots?

    Mr. Franz Jung: There are many Porsche car collectors all around the world collecting every treasured model like artworks. In China, many people share that enthusiasm and are benefiting from more and more events and experiences related to classic cars. By making itself an active part of such events as rally races, vintage car exhibitions and fairs, and Porsche Carrera Cup Asia (PCCA), Porsche hopes to walk young Chinese customers across its history, thus raising its brand awareness and recognition.
  • 3

    Tencent Auto: Could you please share some information about Strategy 2025?

    Mr. Franz Jung: Strategy 2025 still centers on brand and customer and aims to build the most prestigious brand in the auto industry. We need to further improve our service quality, as well as sales and after sales processes. We also want to strengthen new business areas, for example, financial services, used car business, etc. Last but not least, of course, we need to maintain the profitability of our dealers.
  • 4

    Tencent Auto: How many Porsche Centres are there in China now? Where are they mainly distributed?

    Mr. Franz Jung: At the moment, there are 96 Porsche Centers in operation, covering all tier 1 cities and many tier 2 cities. Now, we are focusing on dealer network expansion in potential tier 3 and some 4 cities, with different flexible standards and strategies on scale and number – for example, for smaller cities, not so huge; for bigger cities, not so many. We will pay more attention to the quality of customer services and adopt different approaches in different regions.

Youth

Speed and Balance

Vitality

Dream

Opportunity

New path

Passion

Future

  • Grégoire OLIVIER
  • Franz Jung
  • Franz Jung
  • Franz Jung
编者按
EDITOR'S NOTE
After the one-hour interview, I couldn’t help but ask this question to Mr. Franz Jung: “Would you mind if I ask your age?” And I was startled when I heard the answer.
　　I could never imagine that the energetic President and Chief Executive Officer of Porsche China before my eyes was already in his 50s.
　　“I have many young friends whom I enjoy working and cooperating with.” It is perhaps this mindset that makes him look so young and puts him in better touch with young people’s mind and the Chinese market.
　　Mr. Franz Jung’s favorite thing to do after a busy day at work is trying things unrelated to work. The most relaxing time for him is when he takes off suit and puts on jeans.
　　“I also enjoy partying with friends very much.” Being a cooking enthusiast, He would invite friends over and treat them to some Mediterranean cuisines cooked by himself. After getting to know that I too enjoy cooking in free time, he warmly asked me for a little cooking match someday and I very much hope that day will come soon in the near future.
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