It was founded in 1931 by Ferdinand Porsche, an Austro-Hungarian engineer born in Maffersdorf, Austria-Hungary (today Vratislavice, Czech Republic). Porsche is also known for designing the first Volkswagen, but Béla Barényi is credited with having conceived the basic design five years earlier. The company currently produces 911 (997), Boxster and Cayman sports cars and Cayenne sport utility vehicles. Porsche also makes a brand of hybrid bikes called carrera
In a May 2006 survey, Porsche was awarded the title of the most prestigious automobile brand by Luxury Institute, New York; it questioned more than 500 households with a gross annual income of at least US $200,000 and a net worth of at least US $720,000. The current Porsche lineup includes sports cars from the Boxster roadster to their most famous product, the 911. The Cayman is a hard top car similar to the Boxster in a slightly higher price range. The Cayenne is Porsche's mid-size luxury SUV. The Carrera GT was phased out in May 2006. Future plans include a high performance luxury saloon/ sedan, the Panamera.