Porsche's new CEO to bring out new entry-level Porsche

The integration of Porsche into Volkswagen's management structure continues this week with news that Matthais Mueller will step into the top role at Porsche.

Mueller, who ran product management at Audi for four years, succeeds current Porsche CEO Michael Macht, who has been elevated to Chief of Production for the wider Volkswagen AG empire.

According to reports out of Europe this week, Mueller's first challenge will come in the form of a new line of sub-Boxster models, likely based on Volkswagen's on-again off-again Bluesport concept.

Reports of a new more affordable entry-level Porsche have been circulating for some time now, and with Volkswagen's stated aim of becoming the world's number one carmaker by 2018, a volume-selling Porsche would go a long way to achieving that goal.

If it goes into production, the new model could help Porsche recover sales lost with the Boxster and Cayman, which together have seen a drop of 12 percent, falling to less than half the sales of the brand's best-selling model, the Cayenne.

Even before Volkswagen's takeover of the sports carmaker, Porsche had been pushing to grow its range beyond the current four-model line-up, hoping to double its global sales to 150,000 vehicles.