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Porsche shows off new model in Shanghai

  • Story Highlights
  • Porsche revealed Panamera luxury sedan to world at Shanghai Motor Show
  • Global car sales are tipped to fall by 8 percent this year
  • Chinese sales are expected to grow by 10 percent, hence its Shanghai launch
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(CNN) -- Amid intense interest from local and international media Porsche has revealed its four-door Panamera luxury sedan to the world at the Shanghai Auto Show.

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This is only Porsche's fourth totally new car and it might have been expected to launch it on its home ground of Frankfurt, or its biggest market, the United States. But it chose China. Why?

But if you do the sums the answer is simple: global car sales are tipped to fall by 8 percent this year but Chinese sales are expected to grow by 10 percent. And in the luxury car market the growth is likely to be twice as fast.

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