MISSISSAUGA, Ont.—Porshce Canada has slashed the price—albeit modestly—of the hybrid version of its Panamera sedan for the 2015 model year.
According to Porsche, a 2015 Panamera S E-Hybrid will now start with a sticker price of $110,000 in Canada—a drop of $3,000 compared to the 2014 version.
The price cut, the automaker said, comes thanks to “synergistic effects realized by Porsche in the area of hybrid technology,” which may translate from German into something along the lines of ‘an attempt to sell more vehicles.’
Competing against the ever-popular Tesla Model S in the luxury electric vehicle market means Porsche is searching for ways to boost sales, and in this case that means passing some savings along to customers.
It seems unlikely that someone with pockets deep enough to afford a Panamera in the first place is worried enough about fuel savings to opt for the hybrid version over one of its gas-powered siblings.
Where Porsche could score some sales, however, is with the eco-concious customer who is torn between the Tesla and Panamera hybrid and needs a little nudging in the right direction.
At $110,000, the Panamera hybrid is still nearly $6,000 more expensive than the kitted out Tesla Model S P-85, but bringing the plump Porsche a little closer to reality could help the automaker boost its market share in what’s sure to be a growing segment.