Report: Mercedes Plans Rivals to Audi TT, Porsche Panamera

Daimler AG's Mercedes-Benz unit is pondering the addition of a sports car to rival the Audi TT and a performance sedan to compete with the Porsche Panamera, according to Germany's Auto Motor und Sport.

The German enthusiast magazine says both cars would be developed by Mercedes' AMG unit, pending board approval. Daimler describes the report as speculation.

Auto Motor und Sport says Mercedes may build a front-drive sports car with styling similar to the AMG GT sports car. The new vehicle, due in three or four years, would ride on the company's MFA2 platform, the chassis that will carry the next-generation A-Class small cars.

The report says a Panamera rival, built on the next-generation Mercedes E-Class platform due in 2016, also would launch in about four years.