CHICAGO (AP) -- A sleek new sport utility vehicle will be added to the crowded U.S. market next year: the Cayenne, made by Porsche AG.
"Critics say we're late to the game," said Frederick Schwab, chief of the German company's North American operations. "The first word in SUV is sport, and Porsche is all about sports cars."
More than half of the 25,000 Cayennes expected to be made next year probably will be for U.S. showrooms, Schwab said.
Without detailing the Cayenne's features, Schwab said the SUV would be German-built and use the same platform as a corresponding Volkswagen AG model, with Porsche leading development of both.
While Schwab wouldn't spell out the Cayenne's possible price, Fortune magazine has reported the SUV would fetch about $45,000.
Ron Pinelli, an analyst with Autodata Corp. in Woodcliff Lake, N.J., said the price could run $60,000 for a basic model and $80,000 for a spiced-up version.
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