GERMANY: Porsche to build hybrid version of Cayenne
At its press conference today at the Frankfurt Motor Show (IAA) in Germany, Porsche announced its decision to build a hybrid version of its Cayenne SUV, revealed provisional results for its 2004/2005 fiscal year, and took the wraps off its newest sports car -- the 2006 Cayman S.
Porsche says the hybrid Cayenne will cut fuel consumption by approximately 15 percent while retaining its Porsche driving dynamics. To be launched by the end of the decade, the vehicle's environmentally friendly drive system is being developed together with Volkswagen Group.
It will be based on a Full Hybrid Drive Concept, meaning that the vehicle will be powered by both a gasoline combustion engine and an electric motor that operate independently or in a joint process.
Dr. Wendelin Wiedeking, Porsche President and CEO, announced the company again set records for both revenue and sales. For the fiscal year that ended July 31, 2005, revenue was up by 6.8 percent to Euro 6.56 billion, while sales increased by 15 percent to 88,379 vehicles worldwide. Porsche attributes much of the growth to successful sales of the redesigned Porsche Boxster models (up 38.7 percent worldwide) and the new-generation Porsche 911 Carrera models (up 17.4 percent worldwide). Total Cayenne sales were 41,884 units (up 4.9 percent worldwide).
Porsche expects to see further sales momentum as a result of the two-seat Cayman S coupe, which premiered today and will be introduced in the North American market in January 2006.
The Cayman S has a powerful 295 hp (SAE) engine and is described by Porsche as being the only mid-engine coupe in its class, positioned and priced between the Porsche 911 Carrera and Porsche Boxster S.