[3] Notably, it was Porsche's inaugural production model powered by a V8 engine located at the front, and it achieved remarkable top speeds,[4][5] earning recognition upon its 1978 release by winning the European Car of the Year award.

Amidst the 1970s oil crisis, there were discussions among executives regarding the potential addition of a more fuel-efficient luxury touring car to the company's lineup.

Ordered by Ferdinand Porsche to develop a production-feasible concept for the new model, Fuhrmann commenced a design study in 1971, resulting in the creation of the 928.

Various drivetrain layouts were considered during early development, including rear- and mid-engine configurations, but many were dismissed due to technical and regulatory challenges.

After determining that the mid-engine layout lacked sufficient space in the passenger compartment, Porsche opted for a front-engine, rear-wheel drive configuration.

However, this proposal faced objections from the Porsche board due to concerns that it might lead to rumors of a new 911 model with a front-mounted Volkswagen-based engine.

To maintain a low hood line, the engine prioritized airflow, resulting in the placement of spark plugs at the top of the head.

They were supported by a large one-piece structure forming a lower block, with the cast aluminum oil pan bolted onto this component.

This approach simplified the timing belt layout, requiring fewer components and leading to easier and less costly maintenance.

There was a proposal for the development of a 3.3 L 182 PS (134 kW; 180 hp) powerplant, suggested by Fuhrmann, but this was met with resistance from company engineers.

[8] The finished car made its debut at the 1977 Geneva Motor Show and was subsequently released for sale later that year as a 1978 model.

The base prices of the 928 were considerably higher than the previous range-topping 911 model, and the shift to a front-engined, water-cooled design unsettled some traditional Porsche enthusiasts.

Following the departure of Fuhrmann, Peter Schutz, his successor, opted to continue selling both models concurrently, believing that the 911 still had a place in the company's lineup.

The first generation cars, which terminated in 1986 with the "S"/"S2" models, all featured a sharper, more angular front end with a distinct 'Shark Nose' profile.

Newly developed polyurethane elastic bumpers were integrated into the nose and tail and covered in body-coloured plastic; an advanced feature for the time that aided the car visually and reduced its drag.

The distinctive pop-up headlamps, which remained visible in the wings even when they were retracted, completed the 928's shark-like appearance [16] and were based on the units found on the Lamborghini Miura.

One notable feature of the 928 was its innovative instrument cluster, which moved along with the adjustable steering wheel to ensure maximum visibility for the driver.

The 928 also incorporated the "Weissach Axle", a passive rear-wheel steering system aimed at enhancing stability while braking and during turns.

[17] Porsche's design and development efforts were recognized when the 928 won the European Car of the Year[18] award in 1978, surpassing competitors like the BMW 7 Series and the Ford Granada.

Externally, the S wore new front and rear spoilers and sported wider wheels and tires than the older variant, but the main change for the 928 S was under the hood, where a revised 4.7 L engine was used.

To address this, Porsche introduced a "Competition Group" option for North American customers, offering them a package that mimicked the appearance of the S model.

It featured meteor metallic paint and was fitted with flat disc wheels, wine red leather and special striped fabric seat centers.

Porsche updated the North American 928 S for 1985, replacing the 4.7 L SOHC engine with a new 5.0 L DOHC unit sporting four valves per cylinder and producing 215 kW; 292 PS (288 hp).

In 1986, revised suspension settings, larger brakes with 4-piston callipers, and a modified exhaust system was available on the 928S, marking the final changes to old body style cars.

The Australian market version was the only one with different horsepower rating at 221 kW; 296 hp (300 PS) due to preparation for possible low grade fuel.

Also in 1987, the factory made five white lightweight S4 models with a manual transmission for racecar drivers who were on their payroll at the time (Derek Bell, Jochen Mass, Hans Stuck, Bob Wollek and Jacky Ickx).

European 1989 CS and GT wheels had an RDK tire pressure monitoring system as standard, which was also optional for the same year S4.

Second-hand models' value decreased as a result of high maintenance costs due to spare parts that are expensive to manufacture.

It featured a 25 cm (10 in) longer wheelbase than the normal 928 production model, including an extended roof above the rear seats to better accommodate tall passengers, and what were at the time very advanced projector headlights.

[citation needed] For the 1984 24 hours of Daytona, Porsche sent one of its experimental "All-aluminium" 928S to the Brumos Racing Team to be prepared with specific instruction not to modify the car in any way.