Porsche confirms new sedan

[Jaguar D-Type]

It won't share a chassis like the Cayenne, but do you think it will dilute Porsche?

Atlanta, July 27, 2005 -- The Supervisory Board and the Board of Management of Dr. Ing. h.c. F. Porsche AG, Stuttgart, gave their approval today for the development and production of another Porsche model line. To be called Panamera, the new car will be a premium-class sports coupe with four seats, four doors, and a choice of front-mounted engines driving the rear wheels.

Scheduled to enter the market in 2009, the Panamera will be the fourth model line from the Stuttgart carmaker following the 911®, the Boxster® and the Cayenne®. The new car’s name is derived from the legendary Carrera Panamericana long-distance race.

Production of the Panamera is to be in Leipzig, where Porsche already builds the Cayenne SUV and the Carrera GT® supercar. The final decision will require further detailed talks between the Board of Management of Porsche AG and the Management of Porsche Leipzig GmbH with representatives of the employees. Porsche's total investment in the new model line, including development, will be more than Euro 1 billion and will come entirely from the company’s own funds. Expected sales are at least 20,000 units a year.

"The Panamera is a perfect fit for Porsche,” said Dr. Wendelin Wiedeking, the President and CEO of Porsche AG. “It has all the typical DNA characteristic of a genuine sports car. In terms of performance, design, and driving dynamics, it meets Porsche's high standards in every respect. Through this sports coupe we are making our customers a highly attractive offer in the top performance segment."

Porsche will develop and build the Panamera using the company's own resources. "We will be developing a separate platform for our fourth model line at our Weissach R&D center,” said Wiedeking. “There are no plans for a joint venture with another car maker, but to ensure the profitability of this new model line we will cooperate more closely than so far with selected system suppliers."

Production of the Panamera in Leipzig would potentially create some 600 new jobs there. In the course of the project, approximately 400 more new jobs will be created at Porsche's original plant in Stuttgart-Zuffenhausen, where the engines for the fourth model line will be built, and at the Weissach Development Center.

Like the 911, the Boxster and the Cayenne, the Panamera will bear the "Made in Germany" stamp of quality. Domestic share of the Panamera’s overall assembled value will be approximately 70 percent.

[Samurai75007]

If it looks anything like that and the Ferrari 612 it will look sweet.

[porscheguy9999]

Yep. Its for real. The fourth product line is coming. Porsche has been doing some odd things lately, but more things that are good. So hopefully, it wont turn out to be a clunky sedan, but a nimble 4 door "coupe". So Porsche AG had better get it right for the $120,000-$150,000 price tag. Mabey even as high as $200,000 for a V10 version.


MSNBC coverage of the recent turn of events

The Panamera concept will be here at the Geneva Auto Show most likely in September I believe. With the production slated for 2009. But I dont know if thats 2008 as a 2009 model, or a calender 2009 relese.

[lamehonda]

Thought this would happen soon now they took a dive and made the cayenne.

[dazed and confused]

Porches said that the new Panamera would either have a 350hp naturally aspirated engine or a 450hp turbocharged unit, with stantard rear-wheel drive or optional all-wheel drive and what is also rumored is a range-topping model running with a 500hp engine based on the Carrera GT's 5.7 liter V-10 sweet and also maybe even a hybrid version but I dont think anybody would care about a hybrid Porches I know that I wouldn't pay 125K for a damn hybrid I minuse well buy a few Prius's with all that money. [b]Have FUn Terring Up Those Streets.

[Pennzoil GT-R]

^^^^^^

the cayenne is being released with a hybrid engine, so it will depend on the success of that