18May/080
Porsche denies U.S. Cayenne production
Porsche says it does not need to build its Cayenne SUV in North America and has no plans to do so. Earlier this week, the German business newspaper Handelsblatt said the Cayenne could be built in a new U.S. factory planned by the Volkswagen group. U.S. production of the Cayenne would offset the affects of the weak dollar. Porsche spokesman Albrecht Bamler said it would not make sense to build the Cayenne in the U.S. because suppliers 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.