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The Porsche 912 is a sports car manufactured by Porsche. It is concerned that the considerable price increase of a 911 over the 356 would cost the company sales and narrow the appeal of the brand, a decision was made by executives to introduce a new four-cylinder entry-level model. In 1964, a year both the 356 and the 911 were in production, Porsche engineers constructed a 912 prototype.
Source: Wikipedia