Sports Coupé: 4 seats, 4 doors,
front-engine & rwd.
28 July 2005.
The Supervisory Board and the Board of
Management of Dr. Ing. h.c. F. Porsche
AG, Stuttgart, gave their go-ahead today for the
development and production of a further Porsche
model series. The new car is a premium class Sports Coupé
with four seats and four doors, and will be powered by
various engines. The power unit will be fitted at the
front and will drive the rear wheels.
The fourth model series built by the
Stuttgart car maker following the 911, the Boxster and the
Cayenne will be called the "Panamera", a name
derived from the legendary Carrera Panamericana
long-distance race, and is scheduled to enter the market
in 2009. Porsche's total investment in the new model
series, 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.
Production of the Panamera is to be in
already builds the Cayenne Sports Utility and the Carrera
GT High-Performance Sports Car. The final decision will
require further detailed talks at the Plant, which will be
held by the Board of Management of Porsche
AG and the Management of Porsche
Leipzig GmbH with representatives of the employees.
This would also require a major
extension of the assembly hall already in operation today
starting in 2006/2007. Should the site be chosen for
production of the Panamera it would potentially create
some 600 new jobs in Leipzig alone. 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 series will be built, and
at the Weissach Development Centre.
In the words of Dr. Wendelin Wiedeking,
the President and CEO of Porsche
AG: "We have indeed taken a lot of time in making
this decision. But now we know one thing for sure: The
Panamera is the right car for Porsche,
as it has all that 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 Coupé we are making our
customers an attractive offer in the top performance
Wiedeking stated that Porsche will be
developing and building the Panamera
through the Company's own resources: "We will be
developing a separate platform for our fourth model series
in Weissach. There are no plans for a joint venture with
another car maker. But to ensure the profitability of this
new model series we will cooperate more closely than so
far with selected system suppliers."
In the words of Porsche's President and
CEO, the German share in the creation of value with the
Panamera will be approximately 70 per cent. Like the 911,
and the Cayenne,
the Panamera will also bear the "Made in
Germany" stamp of quality.