However, it now seems that the project for a Ferrari 458 rival hasn’t progressed much further than early feasibility studies.
Reports suggested that a decision was due in mid-2014, but Porsche has yet to officially reveal if the project has a future or not. The model, dubbed 988, was expected to be powered by a 4.0-litre eight-cylinder engine producing in the region of 600bhp alongside more than 400lb ft of torque.
However, insiders recently told Autocar that the idea remains on the wish list, but full-scale design and engineering work is on ice while Porsche works on the new Panamera - which is due to come to market in 2016 - the new Cayenne, and new engines and transmissions, as well as refreshing the Boxster/Cayman and 911.
Sitting in a four-strong family of Porsche models, the 988 would have been joined by a new eight-cylinder supercar, which was planned to go on sale in 2017. The plan was part of Porsche's strategy to reach annual sales of 200,000 units per year in the medium term.