The Associated Press

Tuesday, June 02, 2009
LEIPZIG, Germany — German car maker Porsche SE said Tuesday that it is pleased with orders for its new Panamera sedan and aims to sell about 20,000 of the vehicles annually.

Michael Macht, the management board member responsible for production, said during a presentation in Leipzig that Porsche expected to build about 90 of the new sedans per day once production is in full swing.

"Orders are very pleasing," Macht said. He did not name exact figures, but said demand was "more than we expected in these difficult times."
Macht said Stuttgart-based Porsche aims for sales of 20,000 per year of the luxury vehicle. Porsche said the company hired about 200 workers in Leipzig for Panamera production and plans to debut the car on the German market September 12.

The five-door Panamera body will be built and painted at a Volkswagen AG factory in Hannover, while the engine will come from Porsche's main Zuffenhausen plant in Stuttgart, and the car will be assembled in Leipzig — where Porsche already produces the Cayenne SUV.

Porsche is Volkswagen's largest shareholder, and the companies have said in recent weeks they aimed to form an integrated company. VW is Europe's largest carmaker by sales.

Shares of Porsche Automobil Holding closed up 2.7 percent at euro46.10 in Frankfurt.

 

I'm not psyched about the Panamera but I'm glad to hear it's helping Porsche.

 

+1

Absolutely same opinion.

 

Maybe they are pleased because someone actually wants to buy one...