Above the 911? Porsche previews a new mid-engined supercar.

Porsche showed us a preview of a new model this afternoon as it unveiled the Mission S concept in New York. It’s a mid-engined sports car that will slot into the Porsche range above the 911. But this won’t be a limited-run car like the Carrera GT or 918 Spyder—instead it will be a regular production model, part of Porsche’s plan to dig itself out of a financial hole by 2035.

Things have been tough for the German automaker of late. Just three years ago its profit margin was the envy of the industry at 18 percent; last year it collapsed to just 1 percent. It has recovered a little since then, and Porsche’s board has a plan to get back to double-digit margins by 2035, called “Sportwagenschmiede '35,” which involves prioritizing “value over volume,” with greater individualization for customers—and the associated higher selling prices that come with it.

Note the quad exhausts—will this be powered by a flat-8? …