Porsche slashes Panamera hybrid price

A significantly trimmed price-tag and substantially better performance are key attributes Porsche hopes will drive more interest in the second-generation version of its Panamera luxury hatch.

While orthodox petrol and diesel versions of the new Panamera start rolling into Australia Porsche dealerships within weeks, the petrol-electric 4 E-Hybrid isn’t due to arrive until the third quarter. But when it does arrive we already know its price will be $242,600. That’s $42,700 less than the S E-Hybrid predecessor.

On top of the slashed sticker price, the 4 E-Hybrid boasts a complete overhaul of its powertrain that boosts performance at the same time as it cuts claimed fuel consumption. That tech includes a new petrol V6, more powerful electric motor and Li-ion battery and new power delivery strategy.

“They are two great elements we can leverage,” Porsche Cars Australia (PCA) PR manager Paul Ellis told motoring.com.au.

You can read our explanation of the new tech along with our launch review of the Panamera 4 E-Hybrid in South Africa at the global launch. In the bigger picture, the new powertrain is also significant because it has been designed for widespread use within the longitudinally-engined Porsche family, starting with a higher performance V8 petrol-electric Panamera as well as versions of the Cayenne and Macan SUVs.

But right now, PCA is focusing on the new V6 4 E-Hybrid, reporting it already has a handful of deposits for the car among the 50 or so it has received for the new Panamera overall. That means it is already looking more popular than the S E-Hybrid, which Porsche Cars Australia will admit sold only in a tiny number in Australia.

“There has been a global repositioning of the hybrid [price reduction] and we have benefitted greatly,” Ellis explained.

“Given the technological changes also made to the car, the hybrid element of it now is a lot more palpable,” he added.

“So just on merit we would expect there to be more interest.”

In terms of rivals, the BMW ActiveHybrid 7 series starts at $223,100, while the Mercedes-Benz S500e retails for $317,715. However, a new generation S-class hybrid is launched before the end of 2017. The all-electric Tesla Model S throws an alternate option into the mix with pricing starting from $114,100 for the 60 and stretching all the way to $254,159 for the P100D.

Considering Porsche is looking at selling around 100 Panameras in Australia annually, the share of the hybrid is still not going to be huge. But Ellis indicated 10 sales or more per year was a target PCA would like to achieve.

“We are quite optimistic. That people are willing to put down money before they have driven it gives us a lot of confidence,” Ellis stated.

The absence of a Panamera V6 turbo-diesel from the launch range also potentially opens up opportunities for the hybrid.

The only diesel being offered initially is the V8-powered $312,100 4S Diesel which goes on-sale late June. A V6 diesel will come later, but it yet to be officially confirmed.

“Those who want to hop in to a new Panamera straight away, who are attracted to the design elements and fancy a hybrid vehicle will go for that,” Ellis said.

He also argued that the 4 E-Hybrid made good purchasing sense against the 4S Panamera, which is powered by a higher output version of the same 2.9-litre V6 twin turbo engine sans hybrid system, costs $61,600 more at $304,200 and delivers slightly better acceleration but notably worse claimed fuel economy.