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Porsche unveils Panamera in Shanghai

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Porsche unveiled a new collection of vehicles in China as the country's emerging car industry flexes its muscles.

The Shanghai Auto Show showcased vehicles from electric run-arounds to luxury saloons from Porsche which kicked off the show in the world's second largest market.

Chinese car sales hit a monthly high of 1.1 million in March despite double-digit declines in most other markets.

Porsche unveiled its first foray into the luxury saloon segment, the Panamera. It said its decision to reveal the vehicle in China signals the rising importance of the country's market.

The new four-door Panamera will be built at Porsche's plant in Leipzig, Germany, like the company's Cayenne 4X4.

The Panamera will be entering the market in Europe, South America and parts of Asia in September 2009.

North America and Australia will see the car on the market in October, and in China in early 2010.

Klaus Berning, Executive Vice-President Sales and Marketing at Porsche, said. "Introducing the Panamera, we are entering a market segment completely new for our customers and we are once again consistently expanding our model portfolio."

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