Based on the 4S, the Panamera GTS adds all the important things: power, bigger brakes, a tweaked chassis and a smattering of styling touchups to set it apart.
The 4.8 litre V8 engine from the S and 4S is featured here, gaining 22kW and 20Nm for a total of 321kW at 6700rpm and 520Nm of twist from 3500rpm.
Porsche promises a 0-100km/h run of 4.5 seconds with Launch Control on, and a top speed of 288km/h. Fuel consumption is listed at 10.9 l/100km - more than decent for a big all-wheel-drive V8.
The GTS also benefits from a lowered air suspension system and Porsche Active Suspension Management program, adjusting height, spring rate and damping on the fly.
The rear track has grown by 10mm, and the standard wheels are 19-inch alloys wrapped in 255/45 and 285/40 rubber - upgradeable to 20-inch hoops in 255/40 and 295/35 if the standard issue isn't giving you the right look.
Styling tweaks include a GTS-specific front bumper design and a gloss-black exterior highlight package.
In the cabin, there's leather- and Alcantara-wrapped sports seats, and an Alcantara treatment to the door cards and centre console.
Porsche Australia has confirmed a local 2012 launch for the Panamera GTS, with orders open now.
The Panamera GTS will be priced at $315,300 in Australia, compared to $292,100 for the 4S and $372,200 for the Turbo.