Is there a new Porsche in the works?

Rumours around the internet is that Porsche might introduce a smaller version of its successful Panamera to rival the Mercedes E-Class (Possibly also the BMW 5 and Audi A5). The rumoured car codenamed Pajun will reach markets by 2017 if word from a German car magazine is true.

With the Pajun, Porsche would have a six model line-up and is expected to cost between €65,000 to €100,000 euros. Porsche spokesman Hans-Gerd Bode told Reuters there were many ideas for a sixth model with no decision taken. CEO Matthias Mueller has mentioned Porsche might expand its model line up to seven in order to achieve its goal of doubling annual sales to about 200,000 by 2018.

Currently Porsche makes the 911, Cayman, Boxster, Cayenne SUV and the Panamera. The company will start building a fifth model, the Audi Q5 called the Macan. Powertrain options include a 550bhp V6, 600bhp V8, plug-in hybrid and an Audi-sourced diesel.