29 Aug '11, 8am

Pictures: Porsche to target Ferrari buyers with new model

Pictures: Porsche to target Ferrari buyers with new model

Porsche has made an electric all-wheel-drive prototype of the Boxster. -- PHOTO: PORSCHE FRANKFURT (REUTERS) - German group Porsche is planning to develop a sportscar that would compete directly with the more exclusive Ferrari brand, its chief executive said. 'It always irritated me that the (most expensive) 911 tops out at 250,000 euros (S$433,000) and then the 918 continues starting at 750,000 euros,' Matthias Mueller told German daily Sueddeutsche Zeitung in an interview published on Monday. 'In between, Ferrari moseys around relatively comfortably and without any competition. That is where we need to be. There is still space for a larger sports car, one like the 959 that we built in the 1980s.' He said such a model could cost 250,000-400,000 euros.

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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