Porsche's Panamera beats targets

ATLANTA (AP): Porsche AG says sales of its Panamera four-door sedan are exceeding expectations worldwide after one year on the market.

Porsche has sold 22,518 of the sleek-looking luxury Panameras worldwide, the German auto maker's first entry into the luxury four-door sedan market. The four-seat cars have a United States (US) starting price of US$74,400 in the US and can run as high as US$135,300.

6,188 sold in us

The company said in a news release that it has sold 6,188 Panameras in the US since the model's introduction in October of last year, including 890 in Los Angeles and 760 in New York.

The Panamera has already grabbed 13 per cent of the high-end luxury class market, Bernhard Maier, a member of Porsche's management board, said in a statement.

Models are powered by a 300-horsepower six-cylinder engine up to a 500 horsepower turbocharged V-8.