The Panamera is a four-door coupé, akin to Mercedes-Benz's CLS.

Porsche is believed to have poached engineers from Mercedes-Benz for the project. "Porsche bosses are insisting that their recruits must have worked on the latest S-Class," reports Autocar (Autocar, November 28th, 2007).

Initially, Panamera is powered by a choice of V8 or V10, mounted up front, driving the rear wheels. As of June 2010, Porsche also offers a 3.6-liter V6 version, with 296 brake horsepower and foot-pounds of torque, driving either the rear wheels, or all four. The engine in this base model is 66 pounds lighter than the 8-cylinder unit in the Panamera S and 4S.

The challenge of giving this 2-ton sedan Porsche dynamics has led to the development of component systems that will also be used in future versions of the 911; Boxster; Cayman, and Cayenne.

Meanwhile, Porsche has a deal with Volkswagen to build the Panamera's body at VW's Hannover-Stoeken commercial vehicle factory. Hannover has the equipment to handle the Panamera's huge body sides, which are over five meters long.

Final assembly takes place alongside the Cayenne at Porsche's Leipzig plant.

Porsche hopes to sell 20,000 per year, at $89,800 for the 400-horsepower, 4.8-liter V8 model through $93,800 for the all-wheel-drive Panamera 4S, and to $132,600 for the AWD Panamera Turbo (with 500-horsepower, twin-turbo 4.8-liter V8).

Like "Carrera", the Panamera name refers to Mexico's La Carrera Panamericana, the long-distance race in which Porsche competed successfully in the 1950s.

What will become of the Panamera?

Following the VW Group's purchase of Porsche, VW executives have indicated that the Panamera is unlikely to live beyond its first generation. If those reports prove true, Bugatti would be most likely to get its underpinnings. Bentley is unlikely to want the 2-ton, steel Panamera, as it has already voiced its preference for an aluminum Audi platform to replace the steel Phaeton underpinnings of the Continental range.