Oct.1 (GMM) Another fascinating rumour at the Paris motor show is that Porsche could soon be on the formula one grid.

Earlier this year, it was reported the sports car marque's German parent Volkswagen might enter the sport when the engine regulations change in 2013.

At the time, it was suggested that either Audi or Porsche branding was likely.

Porsche's new chief executive Matthias Mueller was asked at the Paris motor show this week whether it made sense for both Porsche and Audi to compete at Le Mans.

"We do not like to both go into LMP1; that is not so funny," he is quoted by Autocar.

"So therefore we have to discuss whether it makes better sense for one of the brands to go into LMP1, and the other brand into formula one. So we will have a round-table to discuss the pros and cons," added Mueller.

In June this year, Audi's motor sport boss Wolfgang Ullrich said F1 and Audi "do not fit".

Porsche last competed in F1 as an engine supplier to Footwork in 1991.

Mueller also said in Paris that Volkswagen is considering a foray in NASCAR, with talks with the popular American series to reportedly begin after the current season.

Stuttgart-based Porsche's revenues have risen 18 per cent to a record high, totalling EUR 7.8 billion in the latest financial year.

"Porsche will continue the positive trend in the current business year," confirmed outgoing chief executive Michael Macht.

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