In the news, I saw that Porsche announced that they were planning on selling out of their most expensive model by December of this year. They made 918 of the 918 Spyder Hybrid model to create an exclusive and desirable sports car. Being priced at $845,000 makes this car the most expensive car that Porsche has ever made. Also, with the battery that it has, buyers could be elligable for a federal tax credit in the United States of about $3,666.
Porsche had actually planned on using the sales revenue from this model to help recover from recent expansions and new buildings. They also used this car to raise their sports car or sedan percentage, specifically in the United States. With the new Macan model and the multiple models, including a hybrid model, of the Cayenne, Porsche was selling mostly SUVs. They wanted to take their brand image back to the sports and speed aspect in which they were originally developed on.
However, when people think of Porsche, they do not think of hybrid. While it is a trend in the car industry to have at least one hybrid model, a car with the reputation that the 918 Spyder has is not one that should be made into a hybrid. Consumers think of speed and power, along with the aesthetic appeal that most Porsche cars have to offer.
Even while I believe that the 918 Spyder was not the correct model to make as their second hybrid car, the exclusivity that they added on to the idea of this car was a smart move. With the Cayennes and Macans hitting the market in America, Porsche was losing their prestige image to the brand. Pricing this new car where it is helped set the tone of how prestige and exclusive they want the brand to be.
Do you think exclusivity is a good enough way to set a prestige image to their brand?