After spending a billion euros over more than four years fettling a low and sporty looking four-door GT, Porsche has launched the Panamera amid the worst financial crisis the world has seen since the Great Depression at Shanghai, China.

Porsche admits the timing could have been better for the launch of its new flagship sedan, the Panamera.

Porsche chose China to reveal the car as it, Russia and the Middle East are becoming increasingly important emerging markets for high-end cars.

It's the first time Porsche has chosen an emerging market over Europe or the US. But Porsche sales in China increased 145 per cent last year to 7560 cars, says the company's head of sales and marketing Klaus Berning.