Porsche bets onnew 911 to revive sales

Porsche AG unveiled the revamped euro 88,000 (Dh441,615) 911 sports car yesterday, seeking to stem declining sales of its iconic model and renew the brand's heritage as a maker of two-seat performance vehicles. The Stuttgart, Germany-based company, which now sells more Cayenne sport-utility vehicles and Panamera sedans than Boxster and Cayman sports-cars, is overhauling the 911 for the first time since 2004. It will add a compact SUV in 2013. "Porsche's chunky models have become the pillar of their success," Stefan Bratzel, director of the Centre of Automotive Management at the University of Applied Sciences in Bergisch Gladbach, Germany. "Ferrari and others aren't standing still, so it's about time for Porsche to reinforce sportiness. The new 911 couldn't drop at a better moment." Porsche's presentation of the 350-horsepower 911 highlights a push by German carmakers at the International Motor Show in Frankfurt to showcase models critical to their future growth plans. Volkswagen AG is pressing its case to become the industry's sales leader with a new city car, while Daimler AG kicked off its pursuit of VW's Audi and Bayerische Motoren Werke AG for the luxury car lead with the start of a small car line.