For decades the preserve of the rich and famous, the iconic Porsche sportscar may soon be available as a more affordable model, according to a senior executive at the German car maker.

The priority for the crisis-hit company is to produce a car significantly cheaper than the current "bottom-of-the-range" model, the Porsche Boxster, which costs €46 506 (R515 751), Wolfgang Duerheimer, head of development, told Automobilwoche magazine.

Deeper co-operation with Volkswagen, Europe's biggest car maker, which in August announced a merger with Porsche, will make it possible to reduce costs, he said in an interview to appear on Monday.

Last month, Porsche said that sales had slumped by 24 percent in the financial year to July 31 but expressed optimism that the worst of the crisis was now in the rear-view mirror.

AFP

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