Porsche seeks niche among Cambodia’s newly-rich
The wizened cyclo driver, cigarette in mouth, muscles taut from pedalling up and down French-style boulevards, is one of Indochina’s enduring romantic images. But cyclos on the streets of Phnom Penh are now outnumbered by another means of transport: the luxury car. ... But with the urban elite’s growing fixation with brand-name cars, Porsche is confident that there’s a market, and it aims to cater to Cambodian tastes and terrain. ... Finn Viggo Gundersen, general manager of Land Rover distributor Envotech, said he welcomed the competition, but noted that one challenge the German brand would also face is the fact that many Cambodians purchase their cars on the “grey market.”“We don’t sell many cars because of the grey market,” Gundersen said, explaining that there are few protections in place for authorised dealerships. “We only sold 12 cars in 2012 but we saw 300 Land Rovers come in on the grey market.” ... The price tag of a Porsche ranges between about $110,000-150,000, in a country where teachers earn a monthly salary of only $100. ...
