Porsche To Introduce New Model To Compete With Ferrari -Report
29 August 2011 - 10:08PM
Dow Jones News
German sports car maker Porsche Automobil Holding SE (PAH3.XE)
plans to introduce a new model to better compete with Fiat SpA's
(F.MI) Ferrari and boost sales in the coming years, German daily
Sueddeutsche Zeitung reports Monday, citing Chief Executive
Matthias Mueller.
"It always irritated me that [our model] the 911 stops at
EUR250,000," while the 918 already costs EUR750,000," Mueller is
quoted as saying.
"Between [those two price levels], Ferrari... is relatively
comfortable and without competition. That's where we must go
in."
Porsche's new model is set to cost between EUR250,000 and
EUR400,000.
The company plans to increase its sales in the coming years to
200,000 units a year from about 100,000.
Newspaper website: www.sueddeutsche.de
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
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