Porsche goes through the roof - at about €500,000

The most powerful Porsche in the marque’s 55-year history will be unveiled at the upcoming Geneva Motor show, writes Michael …

The most powerful Porsche in the marque's 55-year history will be unveiled at the upcoming Geneva Motor show, writes Michael McAleer.

Offering a ferocious 603 bhp, the Carrera GT is propelled by  5.7-litre V10 engine block - the largest-capacity engine Porsche has ever fitted - and has a top speed of 205 mph and a 0-62 mph of 3.9 seconds.

The Carrera Gt, which will inevitably be compared with the Ferrari Enzo, will compete with forthcoming supercars such as the McLaren-Mercedes SLR and Bugati Veyron. With only 1,000 being built - all left-hand drive! - it will not be seen on our shores until the end of the year at the earliest. Prices will be announced at Geneva but expect to pay in the region of €500,000.

Details of the new car come as Fortune magazine names Porsche CEO Wendelin Wiedeking as its 2003 European Businessman of the Year. Since taking over in 1992, Wiedeking has transformed the company from a boutique carmaker to a high-performance money machine. Porsche's operating profits s a percentge of sales are the highest in the industry and during its last fiscal year, its revenues rose 9.3 per cent to €4.5 billion. Under his direction, Porsche has enjoyed nine years of increased profits, even during turbulent economic times.