Tired of yielding ground to Ferrari, Porsche plans to develop a sports car that would compete directly with the more exclusive Italian brand.
"It always irritated me that the 911 tops out at 250,000 euros (about $362,000) and then the 918 continues starting at 750,000 euros ($1.09 million)," CEO Matthias Mueller told the German newspaper Sueddeutsche Zeitung.
Mueller added, "In between, Ferrari cavorts around relatively comfortably and without any competition. That is where we need to be. There is still space for a larger sports car, one like the 959 that we built in the 1980s."
He said such a model could cost $360,000 to $570,000.
According to a Reuters report, Porsche has announced plans to have seven model lines, up from the four it currently sells, as part of its goal to boost annual global sales to more than 200,000 units by 2018, up from 97,000 in 2010. A new, pricier sports car would be No. 8.
In addition to the existing four model lines--Boxster, 911, Cayenne, and Panamera--Mueller has planned a small mid-engine roadster patterned on the 550 Spyder, a smaller SUV dubbed the Cajun, and a smaller version of the Panamera GT.
(Source: Automotive News)