Porsche's new CEO Matthias Mueller has come in with one main promise to the world - creating an economic luxury sportscar.

According to Automotive News: "When Mueller takes over as CEO of Porsche AG on October 1, his first assignment will be to revive Porsche's entry-level segment..."

Sales have been a bit down for Porsche, 12 percent in the nine months through April for the Boxster and Cayman models combined. In February, Porsche introduced the Boxster Spyder with a starting price of $66,900.

Porsche wants to expand its sales from 100,000 units a year currently to 150,000 units globally by 2013.

In order to accomplish this, Porsche will double the number of models in its lineup from four to eight. One way the German luxury car maker will achieve this is by adding an entry-level model below the Boxster as well as a small SUV model based on a Volkswagen.

"We have to make progress with Porsche. Mueller is the right person to deliver it," said VW Group CEO Martin Winterkorn at a press event earlier this week.

Mueller, 57, was chosen by the Porsche board earlier this month to replace former CEO Michael Macht.

For the latest in Porsche News, and to take one for a test drive, head on over to Fred Lavery Company - 34602 Woodward Avenue, Birmingham, MI 48009.


Source:  http://www.worldcarfans.com/110070827255/new-ceo-to-tackle-smaller-entry-level-porsche-as-first