Porsche to build small SUV as board backs model expansion

STUTTGART, Germany (Bloomberg) -- Porsche AG approved plans to develop a small sport-utility vehicle called the Cajun as the manufacturer aims to increase annual sales by adding models.

The company's supervisory board today signed off on the new model, which will be smaller than the Cayenne SUV, Porsche's best-selling vehicle, the Stuttgart, Germany-based automaker said in a statement.

The Cajun will be the manufacturer's fifth model line alongside the 911, Boxster, Cayenne and Panamera series.

Porsche, which is in the process of merging with Volkswagen AG, is expanding its lineup from 38 models across the four vehicle lines to almost double annual sales to 150,000 vehicles by 2014.

Porsche said the new model is expected to draw younger buyers to the brand. Analysts expect the Cajun line to share many parts and components with the Audi Q5 crossover, another Volkswagen Group model.

source:  http://www.autonews.com/apps/pbcs.dll/article?AID=/20101129/OEM/101129897/1295/product#ixzz16j6ZeIZ6