Porsche has not yet decided whether to build a car smaller than the Boxster, hence a release could be expected in the summer of 2014 at the earliest, Porsche head Matthias Mueller has said.

The decision is to be made soon but could be delayed until next year, as well, he added, according to a Financial Times Deutschland report.

If the automaker decides to build such a car, which is expected to cost less than EUR40,000, it will be launched in the late summer of 2014 and even later.

This is the first Mueller has given a timeline for this model.

Porsche may also pull out of its plan to build a small sports car in order to increase its sales to 200,000 units by 2018, the chief added.