|Porsche Approves Four-Door Sports Coupe for 2009 Launch
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.'
Source - Porsche
2009 Porsche Panamera
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