The latest Porsche Panamera’s low price caught the attention of a Chinese Porsche AG dealership’s web ad.
After the store appeared to be offering the car for 124,000 yuan ($18,000), about one-eighth of the beginning price of 998,000, drivers dreaming of luxury thought they were in luck.
Porsche admitted the Yinchuan outlet had posted information with “a severe inaccuracy in the advertised selling price” after hundreds of clients paid 911 yuan reservation fees.
The firm’s embarrassing reversal and Weibo’s disappointment followed.
A spokesman for the Stuttgart, Germany-based manufacturer told Bloomberg News that the dealership corrected its mistake promptly.
The gaffe didn’t hurt everyone. Porsche stated it “negotiated an amicable solution” with the first online reservation for the dealership’s one vehicle. No details.
The official said Porsche contacted each bidder individually to apologize and refund reservation costs within 48 hours.
In the first half of 2022, Porsche sold $6.2 billion in China, its biggest market. It sold 46,664 vehicles in China—30% of global sales.
