Porsche has unveiled its powerful new Panamera Turbo S at the 2011 New York International Auto Show. With its new four-door Panamera Turbo S, Porsche is establishing a new benchmark for its competitors.

Under the hood, the Panamera Turbo S will feature a twin-turbocharged 4.8-liter V8 engine that can generate a power of 550 hp and a torque of 553 lb-ft. The company added that the “Sport” and “Sport Plus” overboost mode of the standard Sport Chrono Package Turbo generates more torque of around 590 lb-ft.

The company said that the increase in power in the Panamera Turbo S is the result of a quicker, more responsive turbo response and modified engine control unit. The new Panamera will be equipped with a Launch Control with the help of which it can reach from 0 to 60 mph in just 3.6 seconds. The top-track speed is 190 mph.

The new Porsche Panamera Turbo S will have a base price of $173,200, excluding $975 for delivery and destination. The vehicle is expected to be on sale in the U.S. later this spring.

Along with the Panamera Turbo S, the Stuttgart, Germany based company revealed the Panamera S Hybrid. This vehicle is powered by a 3.0-liter supercharged V6 engine that is supported by a 47-horsepower electric motor. This new Panamera model produces 380 horsepower with fuel consumption of only 6.8 L/100 km on the New European Driving Cycle.

The Panamera S Hybrid can accelerate from 0 to 60 mph in just 5.7 seconds and has a top track speed of 167 mph. The Panamera S Hybrid will go on sale in the United States later in 2011 with a price tag of $95,000.