Porsche to add new model line by 2020

Speaking late last week at the company’s annual press conference, Porsche CEO Mattias Mueller told the audience that “in the not too distant future, we will present a seventh model line” that would join the current production line-up by 2020.

The exact form of the new model line remains the stuff of speculation at this stage, with the Volkswagen Group board still yet to give final approval for the new model.

Porsche is said to be considering an all-electric model to counter the rising popularity of Tesla’s Model S P85 and P85D (dual motor). The company has been rumoured to be going forward with its plans to sell a smaller version of its five-door Panamera, but purely as an electric car.

In addition, the company might also expand the Panamera range with a larger shooting brake body style.

A new super sports car that would sit between the 911 and recently sold-out limited edition 918 Spyder plug-in hybrid is also said to be under consideration. The new Porsche supercar would be designed to challenge rival cars from McLaren and Ferrari.

Porsche has its global sales sights set on a record 200,000 vehicles in 2015, driven by high demand for the mid-sized Macan SUV.

Sales rose 17 per cent to 189,849 vehicles in 2014, while last month alone total units sold grew 34 per cent to 14,836 vehicles.

Despite a falling profit margin that narrowed to 15.8 from 18 per cent in 2013, due to capital investment for the Macan and revamped Cayenne models, Porsche’s sales margin is still the highest in the automotive industry.

Current Porsche product lines include the 911, Boxster and Cayman, Panamera, Cayenne, Macan and the 918 Spyder.