Porsche Cayenne 2023 review: SUV returns in souped-up guise


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When Porsche introduced the world’s first mainstream ultra-luxury SUV in 2002 there were some raised eyebrows.

A sports car manufacturer? Knocking out a 4x4?

A questionable decision, many thought, metaphorically scratching their chins and literally suspecting the car would at best end up a sideshow in the brand’s line-up.

Not so though. When the first Cayenne rolled off the production lines in all its chunky splendour, it soon became apparent that Porsche had hit upon something.

The buying public agreed and the vehicle sold well, confounding all those earlier assumptions from the naysayers.

In fact, we have now reached a stage where the car is jockeying for position as the brand’s all-time most popular vehicle.

So, to get up to date, just over 20 years after the first Cayenne hit the grit, the latest version has arrived.

Porsche says the 2023 model has undergone a comprehensive upgrade – one of the most extensive in the brand’s history, apparently – with more power added to all engine and trim variants.

Externally, the latest Cayenne, while conforming to its classic shape, has been fitted with newly arched wings that emphasise the car’s width.

Inside, it looks as luxurious as ever, but with a freshly invigorated tech set-up.

Let’s get down to the driving

Credit where it’s due, that extra power is obvious when you get behind the wheel.

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The thing about the Cayenne is that it feels like a sports car. Just a really big, comfortable one.

The car tears along at a decent lick, and, due to its size and ride height, there is a noticeable absence of speed-related hysteria inside the cabin.

That doesn’t stop it from feeling more than a little bit exciting though.

Any buffeting that may have been present in older models has been minimised with a new shock absorber set up.

There are three Cayenne variants – a standard version, the E-Hybrid and the S, with each increasing in power in that order.

The S has a maximum speed of 273 kph and will get you to the ton from a standing start in around 4.7 seconds.

Power and thrills all there then, but the Cayenne has also become more driver focused.

Many of the functions used most frequently are now located on or next to the steering wheel, allowing for a vast, centre console with a whole heap of uses – not least, lighting up in a particularly pretty way.

It’s what the manufacturer is calling the new Porsche Driver Experience.

A key feature of this is the mix of digital and analogue elements, which will be welcomed by anyone who has ever prayed for a simple button when trying to put information into an overly sensitive touchscreen.

The legacy of the Cayenne is beyond doubt

Since it first appeared, almost every luxury car manufacturer has created their own version – Jaguar introduced the F-Pace in 2015, Lamborghini’s Urus arrived in 2017, Rolls-Royce gave us the Cullinan in 2018, and, most recently in 2022, Ferrari unleashed the Purosangue.

The list goes on.

To mark the 20th anniversary of its creation last year, Porsche held a series of events – notably Camp Cayenne in the UAE’s Hatta region – all designed towards celebrating the car’s success and, no doubts, generating enthusiasm ahead of the new model.

This course of action appears to have worked, but the interest was probably there already.

As for the latest version, there are evidently plenty more capable SUVs out there if you’re going into rough terrain, but an off-road capable, heavy car that still drives like a track tearaway?

That’s a hard-to-beat combo whichever way you look at it.

The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

MATCH INFO

Who: UAE v USA
What: first T20 international
When: Friday, 2pm
Where: ICC Academy in Dubai

UAE currency: the story behind the money in your pockets
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

UAE currency: the story behind the money in your pockets
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Updated: May 19, 2023, 4:03 AM