Digital Retail Strategy Increasing During Coronavirus, Says Porsche Cars North America CEO

The transcript provides an overview of Porsche's business during the COVID-19 pandemic, highlighting the impact on sales and the shift towards digital retail strategies. It discusses the growing demand for electric vehicles (EVs) despite low gas prices and the challenges of new technology adoption. Porsche's position in the competitive EV market is examined, emphasizing their focus on innovation and maintaining the brand's sports car legacy.

What was the impact of dealership closures on Porsche's sales in April?

• Sales were unaffected by closures.

• Sales decreased due to closures.

• Sales remained stable.

• Sales increased significantly.

How has Porsche expanded its digital retail strategy during the pandemic?

• By reducing the number of dealerships.

• By eliminating online sales options.

• By increasing the number of dealerships involved in digital sales.

• By focusing solely on new car sales.

What is a major psychological barrier for consumers considering electric vehicles?

• Limited range and new technology concerns.

• High gas prices.

• Lack of online purchasing options.

• Excessive dealership closures.

How do current gas prices affect the demand for electric vehicles?

• They have no impact on electric vehicle demand.

• They increase demand for electric vehicles.

• They decrease demand for electric vehicles.

• They make electric vehicles more expensive.

What is Porsche's approach to competition in the electric vehicle market?

• They aggressively attack competitors.

• They ignore other electric vehicle manufacturers.

• They respect competitors and focus on their own strengths.

• They collaborate with all competitors.

What unique feature does Porsche aim to offer with its electric vehicles?

• A focus on affordability.

• A minimalistic approach to car design.

• A traditional design with no new technology.

• A sports car experience with advanced personalization.

What is Porsche's strategy for ensuring their electric vehicles stand out in the market?

• By offering fewer customization options.

• By reducing production costs.

• By focusing on engineering and design excellence.

• By lowering prices significantly.