Porsche Denies US Cayenne Production

source: auto news
Porsche says it does not need to build Cayenne SUV in North America and has no plans to do so. German business newspaper Handelsblatt said the Cayenne could be built in a new United States Volkswagen plant. U.S production of the luxury sport utility vehicle would offset the affects of the weak dollar. However, Porsche spokesperson Albrecht Bamler responded by saying it wouldn't make any sense in building the Cayenne in the U.S. because the supppliers that provide components for the SUV are in Europe.

Bamler said Porsche is protected against the financial effects of the weak dollar through currency hedging until 2013.

For those are curious, Volkswagen welds the bodies in its Bratislava, Slovakia, plant alongside the VW Toaureg and Audi Q7. Cayenne bodies are then shipped to Porsche's Leipzig, Germany, plant for final assembly and inspection. In related news, Handelsblatt is reporting that the next generation Cayenne could be built in VW's new U.S. plant after 2015. However, Bamler said the launch of the next Cayenne was too far in the future to comment on.

VW's new U.S. plant will set to open in 2010 and build 100,000 to 150,000 vehicles annually with a maximum capacity of 250,000 vehicles.

Porsche owns 31 percent of VW and plans to increase its stake to more than 50 percent in the next six months.