Porsche Plans Second Sedan

Volkswagen AG's Porsche unit intends to add a small sedan to its lineup within five years, according to Auto Bild, which cites no sources.

The German enthusiast magazine says the new model, code named Pajun, would fit below the company's Panamera sedan and sell for roughly $100,000.

In addition to the Panamera, Porsche currently offers the Cayenne crossover vehicle and three sports cars: the 911, Boxster and Cayman. The Pajun would compete with such models as the Mercedes-Benz E-Class sedan.

Porsche says it has not decided on a sixth vehicle. But the company said earlier that it might eventually expand to seven models in its quest to reach annual worldwide sales of about 200,000 units in 2018 about twice its current volume.