Porsche working on a new model to take on Ferrari

Article by Christian Andrei, on August 30, 2011

Porsche AG intends to manufacture a sports vehicle that will rival the more exclusive Ferrari brand, the company's CEO Matthias Mueller disclosed in an interview with German-based newspaper Sueddeutsche Zeitung. Muller has expressed angst with the fact that the most expensive 911 tops out at 250,000 euros or $360,000, while the 918 follows beginning at 750,000 euros.

He further stated that Porsche needs to be in between, where the Ferrari roams around relatively comfortably and without any competition.

According to Muller, as reported in the Monday report of Sueddeutsche Zeitun, there is still opportunity for a larger sports vehicle such as the 959 that the company built in the 1980s. Mueller also disclosed that the model's expense could range from 250,000 euros to 400,000 euros.

Currently, the company has made known to the public its intentions to have seven model lines, an increase from the four that it is selling currently. This is a part of the company's aim to increase worldwide sales to at least 200,000 vehicles by 2018, an increase from the 97,000 obtained in 2010.

A new, more expensive sports vehicle would be number eight. Additionally, the CEO has also planned a small mid-engine roadster based on the 550 Spyder, a smaller version of the Panamera GT, and a smaller SUV dubbed the Cajun on top of its current model range of Boxster, Cayenne, Panamera and 911.

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