Porsche Delay Panamera Launch

Porsche recently announced that it would delay the Panamera debut for the Shanghai auto show next April, initially planned for the Geneva show in early March.

The company was quoted by Autonews as saying that the switch to the Asian show reflects the growing importance of China, India and Russia in its sales strategy. This happens because Porsche sold 8,190 units in China alone in the previous fiscal year, meaning that there was an 100% growth in sales in that country.

In the same period, sales fell drastically in Europe and the United States, while Germany recorded a 5.4 percent tumble.

Porsche CEO Wendelin Wiedeking says he is hoping for "new market opportunities" and a "stronger presence" in regions like China and the Middle East.

Proving the fact that the Panamera was not affected by the economic crisis, Porsche stuck to the press presentation in June, which will take place in Germany. The constructor intends to sell 20,000 Panameras per year, despite the economic crisis.

"In no case will we produce too many," the CEO said. "In that case, I would intervene myself."

The Panamera is Porsche's first attempt at making a luxurious 4 door saloon and it is one of the most anticipated models of this year. The top of the line Panamera will get a 4.8-liter V8 engine propelling the vehicle to a top speed of over 300km/h.

There is a hybrid version coming in 2011, which combines the petrol V6, with a 110 kW(150 hp) electric motor situated between the normal engine and the gearbox. There is also a rumor that the Panamera will borrow a diesel V10 from Audi to offer more fuel efficiency.
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