Porsche will in­tro­duce model at Detroit Auto Show

The Pak Banker - - Company& -

BER­LIN: Porsche AG, the sports-car maker merg­ing with Volk­swa­gen AG, will pre­miere a "spec­tac­u­lar" model when it re­turns to the Detroit auto show in Jan­uary af­ter ex­it­ing four years ago. "We'll have some­thing spec­tac­u­lar to show there," Hans-Gerd Bode, a spokesman at the Stuttgart­based car­maker, said in an in­ter­view to­day. "You'll have to wait and be sur­prised." Porsche will join VW group pre­sen­ta­tions be­gin­ning Jan. 10 in Detroit that will also in­clude lux­ury unit Audi and ul­tra-lux­ury brand Bent­ley Mo­tors Ltd., Bode said.

Porsche, maker of the 911 sports car, last year de­liv­ered a quar­ter of its 85,903 ve­hi­cles to the U.S., its biggest sin­gle mar­ket. The man­u­fac­turer pulled out of Detroit af­ter 2007 to fo­cus U.S. ac­tiv­i­ties on Los An­ge­les. Detroit has been a main­stay of the North Amer­i­can auto in­dus­try for more than a cen­tury and is the largest an­nual U.S. auto show.

"Porsche's re­turn demon­strates the rel­e­vancy of the Detroit show for lux­ury man­u­fac­tur­ers," said Re­becca Lind­land, an an­a­lyst at IHS Au­to­mo­tive in Lex­ing­ton, Mas­sachusetts. "They tar­get a very spe­cific au­di­ence with their cars and the U.S. mar­ket is in­cred­i­bly im­por­tant for Porsche." The com­pany's U.S. de­liv­er­ies surged 49 per­cent in Novem­ber to 2,416 cars and sport-util­ity ve­hi­cles, the sixth con­sec­u­tive month of at least dou­ble-digit sales in­creases. Year-to-date sales gained 29 per­cent to 22,753 units.

Porsche's pre­ferred shares rose as much as 1.96 eu­ros, or 3 per­cent, to 66.50 eu­ros in Frank­furt trad­ing and were up 2.2 per­cent as of 2:23 p.m., valu­ing the com­pany at 11.6 bil­lion eu­ros (&15.4 bil­lion).

Porsche's Cay­man R mi­dengine sports car, which sells in Europe for 69,830 eu­ros, pre­miered last month in Los An­ge­les. -Bloomberg

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