The decision made by Porsche (VLKAY.PK) to expand its lineup past signature two-door sports cars generated criticisms from purists and aficionados, but from a business perspective, it may have been the best move the brand has ever made. When a block of luxury dealerships in Minneapolis was put up for sale in 2012, the Audi division and Mercedes-Benz brands were not the primary focus for the buyers.
“Porsche was the cherry on the cake,” said Jay Hulbert, the president of the dealership group that acquired the outlets, in a telephone interview with Bloomberg. “The volume is so dramatically different, yet when you dig into the financial performance, Porsche meets your expectations and then some.”
Dealers have put an added emphasis on the Porsche brand since the debut of its Cayenne SUV and Panamera four-door sedan, which increased the brand’s appeal to a much wider demographic of buyers. “In a period of sparse activity for auto-dealership acquisitions,” Bloomberg reported, ”the deals vaulted Porsche among the most frequently acquired franchises by publicly traded groups during that span.”