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Porsche expects boost from all-new Panamera

Japan’s Toyota Motor Corp on Wednesday issued recalled notice for about 3.37 million cars worldwide over possible defects involving airbags and emissions control units.
Porsche

Porsche

Porsche expects it new Panamera sedan to give a boost to the weakest performing model in its portfolio.
Chief Executive Officer of the company, Oliver Blume said he hopes to sell about 20,000 or more Panameras a year globally, up from 17,200 in 2015.

The Volkswagen Group subsidiary is targeting luxury car buyers with a sportier, sleeker version of the four-door coupe-styled sedan that is due to arrive at European showrooms in November and U.S. dealerships in January 2017.

“We’re aiming it at people that want to drive sporty, in particular we want to reach out to young entrepreneurs that founded their own companies and startups,” Blume said.

In the U.S., the 2017 Panamera 4S will be priced from $100,950 and the Panamera Turbo will start at $147,950, including shipping fees.

Forecasts by research firm IHS Automotive suggest Blume could be more upbeat about sales of the Panamera, which shares a platform with models from sister brands Audi and Bentley to lower costs.

IHS sees Panamera sales rising to 35,444 by 2020. By comparison, BMW’s 7-series model may increase 30 percent to 51,825 cars while sales of Mercedes-Benz’s S class may decline 21 percent to 79,044, according to IHS.

Over the past seven years, the combined volume for the fastback-styled sedan amounted to nearly 150,000, which is 21,150 sales a year on average. That met Porsche’s original volume target, but it was not comparable with the Macan or Cayenne SUVs, which that have substantially exceeded sales expectations.

Porsche unveiled the second-generation Panamera sedan here on Tuesday, hoping to enhance its reputation for speed with a grand tourer that can lap the Nuerburgring Nordschleife as fast as the previous-generation 911 GT3.

Blume said diversifying the Porsche lineup in 2009 with the launch of the Panamera was strategically important. By offering a four-door sedan with four executive-style seats it was able to target a new customer group and broaden its business.

“The unique thing about this car in its segment is that it combines both comfort and sportiness,” Blume said. “For example you can feel as if you’re in a large luxury sedan thanks to the three-chamber air suspension or you can tackle curves in an extremely sporty way using the same rear axle steering our customers already know from the 911 Turbo.”

Blume said the car could lap the Nordschleife in 7:38 minutes — as fast as the older GT3 version of the 911. One of the Panameras on display was also the original that clocked that time, featuring an interior safety cage in case of a rollover and a unique bucket seat, as well as a computer and measuring technology.

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