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‘Poor man’s Porsche’ under consideration

Published on 08/10/2009

Berlin -- For decades the preserve of the rich and famous, the iconic Porsche sports car may soon be available as a more affordable model, according to a senior executive at the German carmaker.

The priority for the crisis-hit company is to produce a car significantly cheaper than the current "bottom-of-the-range" model, the Porsche Boxster, which costs 46,506 euros (67,778 dollars), Wolfgang Duerheimer, head of development, told Automobilwoche magazine.

Deeper co-operation with Volkswagen, Europe’s biggest car maker, which in August announced a merger with Porsche, will make it possible to reduce costs, he said in an interview to appear on Monday.

Last month, Porsche said that sales had slumped by 24 percent in the financial year to July 31 but expressed optimism that the worst of the crisis was now in the rear-view mirror.