According to reports coming out of Germany, Porsche’s board could approve the much rumored baby Cayenne as early as next week. The report comes as Porsche secured the jobs of its 8,600 German workforce for another 5 years in exchange for a pledge from labor to increase productivity more than 6 percent annually.
“Against this backdrop, we are confident that we can continue to increase our revenue and earnings in the coming years,” said outgoing Porsche CEO Michael Macht in a statement.
In exchange for productivity growth in Germany, Porsche will invest somewhere in the high hundreds of million euros in its three German plants in Stuttgart, Ludwigsburg and Weissach.
Stay tuned for more details.
2011 Porsche Cayenne:
– By: Omar Rana
Source: Automotive News (Subscription Required)