The luxury car market is growing in China and Germany-based sports car producer Porsche has been experiencing growth in the country in recent years. The company unveiled its latest generation red 911 Turbo at the opening of the China (Guangzhou) International Automobile Exhibition on July 25-31.

Porsche entered the Chinese market in 2001. It sold 857 cars in 2005, more than doubling the volume sold in 2004 and has set a sales target of 1,350 cars for 2006.

Managing director of Porsche China, Mark Bishop, said Porsche would soon launch several other models on the Chinese market, including the new Boxster, 911 GT3, 911 GT3 RS and 911 Targa 4/4S.

The company will also open four more Porsche centres in Dongguan and Shenzhen in the Guangdong Province, Haikou in the Hainan Province, Harbin in the Heilongjiang Province and in Changchun in the Jilin Province, offering dealer services and an after-sales services. It already has 16 service centres on the mainland.

According to Guangzhou municipal government's auto industry adviser Li Lin, China's current premium car market of approximately 16,000 generally relies on imports, while the premium roadster market stands at about 5,000 units annually. It is believed that market demand will maintain a sustained growth in tandem with the economic development of the nation.

A total of 396 passenger cars including 151 imported cars are on display at the Guangzhou auto show.