Porsche to unveil Panamera model in Shanghai

Porsche SE, the world's leading manufacturer of luxury automobiles, will unveil its latest model line, the Panamera, at the 2009 Shanghai Auto Show during April 20 to April 28, sources reported.

The new model is a four-door, four-seat luxury sedan. It is front-engined and rear wheel drive, with four-wheel drive available on top versions. The new model is set to be on sale in China in the fourth quarter of the year.

The Panamera is a major model of Porsche, said Helmut Broeker, general manager of Porsche China. He also said that the debut at Auto Shanghai 2009 shows that the German automaker is committed to the Chinese market and the new model will help it further expand business in China.

Porsche sold more than 7,600 autos in China in the fiscal year 2008 ending September 2008, accounting for 7.5% of its global sales. Therefore, China has become its third largest market after the U.S. and Germany.