It's all part of Volkswagen's push to have Porsche make a greater contribution to the group's sales. The latest reported new model follows earlier confirmation of another: a small SUV badged Cajun.
Already, the rumoured medium sedan has been dubbed 'Pajun' in the press, and, according to German publication Autobild, the new model will retain the four-door coupe look of its larger stablemate.
The report adds that engine options will mirror the Panamera, including petrol, diesel and hybrid variants.
If the reports are to be believed, Porsche will be looking to replicate the success of the Panamera, just as the Cajun will be expected to build on the Cayenne SUV's top-selling position.
Within Porsche's Australian line-up, the Panamera's sales pale in comparison to the company's global best-seller, the Cayenne.
Whether there's any truth to these reports remain to be seen, but any potential debut for the new model would be unlikely before 2015.