Porsche to decide on fourth line by September

German luxury car maker Porsche will make an announcement on a fourth model line shortly before the Frankfurt car show at the start of September, a company source told Reuters.

The Frankfurter Allgemeine Sonntagszeitung reported on Sunday that Porsche Chief Executive Wendelin Wiedeking could announce the launch of the fourth line tomorrow, when German Chancellor Gerhard Schroeder is due to visit the company.

A spokesman for Porsche told Reuters, however, that that would definitely not be the case.

He also dismissed comments in the report that Porsche's works council and Wiedeking could sign an agreement at the start of the week guaranteeing the future of its operations in Germany.

"We are ultimately still in talks and both sides have agreed not to comment until they are concluded," he said.

The management wants more more efficient working hours and shorter breaks, while staff are seeking job guarantees at German locations until 2009.

Porsche has been mulling whether to introduce a fourth model line in addition to the Boxter roadster, Cayenne and 911 premium sports car for a while. Porsche has said a decision on a fourth model line would be taken in the summer.