Porsche which opened its 2nd showroom in india hopes to triple its sales in three years. So far Porsche has sold about 350 cars in India in the past three years. Currently Porsche sells boxster,cayman,911 and cayenne in india. Cayenne SUV contributes to 65% of total sales. The number of wealthy individuals in India grew at the second-fastest pace in the world in 2006, according to a study by Merrill Lynch and Capgemini. To tap the growing number of wealthy consumers, porsche will soon add showrooms in Hyderabad, Pune and Chennai in addtion to Delhi and Mumbai in 2008. It also plans to open a facility in the North of Mumbai in 2009. Porsche plans atleast 10 such centeres in India. “India is an extremely important emerging market for Porsche,” said Papke managing director of Porsche Middle East and Africa. Inidan luxury car industry is estimated at about 6,000 units annually i.e 2-3% of total car market.”The luxury car segment is still in its infancy, but the potential is enormous, and the key is to unlock that potential,”he added. Indian luxury car industry is expected to double in next few years. Hence most luxury car manufacturers are switching their expansion plans to fast lane Construction of Porsche’s Mumbai showroom started in 2006, and now the finished building is home to the Porsche product range. The technological and sporting icon of Porsche, the Carrera GT, will be on display for a few weeks before it will be flown back to Germany. Though it does not offer its enitire product line-up in india, Porsche says its products, which sell for between Rs 55 lakh and Rs 1.4 crore, will all be available in India, even though it might involve a 14- 16 week waiting period. Precision Cars India the importer of Porsche in India sells the cars through its dealers named Shreyans Motors Pvt. Ltd. Porsche will launch the Panamera in late 2009.