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Porsche is offering up proof that even the most luxurious cars can be fuel efficient with the debut of a V6 diesel engine on the Porsche Panamera.

The new Panamera Diesel is now equipped with a 3.0 liter V6 diesel engine that delivers a total of 250 HP and will sprint from 0 to 60 mph in 6.8 seconds, while top speed is limited to 150 mph. What’s even more impressive is that the sports sedan was tested and received an impressive 745 miles on an 80 liter tank with an average fuel consumption of only 6.3 liters per 100 kilometers, or about 37 mpg.

In Germany, the new Panamera Diesel will be priced at about 80,183 euro, or about $119,500 at the current exchange rates, and will go on sale in August 2011. There hasn’t been any mention as to if the Panamera Diesel will be available on the US market.

The Panamera Diesel will still feature the stretched Carrera look as the standard model. It measures 4.97 meters in length and a mere 142 centimeters in height. The only difference in the exterior will be the word "diesel" on the front doors and trunk lid.

The interior still features the same high-end leather seats, soft-touch plastics, navigation system, three-spoke steering wheel and brushed aluminum surrounds that are found on all models in the line.

The new Porsche Panamera Diesel is powered by the same 3.0 liter V6 engine found in the Cayenne. This engine is further equipped with common rail direct injection through piezo valves at a pressure of 2000 bar, turbochargers employing electrically controlled variable geometry turbochargers (VGTs), and a controlled exhaust gas recirculation, oxidation catalyst, and particle filter that achieves emission control. All of these components deliver a total of 250 HP achieved between 3,800 rpm and 4,400 rpm and a peak torque of 405 lbs-ft available all the way from 1,750 rpm to 2,750. The new engine will sprint the Panamera from 0 to 60 mph in 6.8 seconds, with a top speed of 150 mph. It will only be offered in rear wheel drive version.

Fuel efficiency for the sports sedan is marked at 6.3 liters per 100 kilometers, or about 37 mpg and C02 emissions come in at 0.57 pounds of C02 per mile. Additional benefits for the Panamera Diesel are the start/stop function as standard and the optional adaptive air suspension.

In Germany, the new Panamera Diesel will go on sale August 2011 at a price of 80,183 euro, or about $119,500 at the current exchange rates. No word just yet on whether or not it will be available on the US market.

The list of competitors for a diesel variant of the Panamera will mirror that of the standard version with the BMW 7-Series and the Audi A8.

BMW is rumored to be bringing a diesel 7-Series to the US market, but Europeans already benefit from the performance of models like the 740d xDrive. This model is powered by a straight six-cylinder engine that features TwinPower Turbo technology and Common Rail direct injection and delivers a total of 306 HP at 4,400 rpm and maximum torque of 442 lbs-ft is available between 1,500 and 2,500 rpm. The only area the 

 new Panamera trumps the BMW is in fuel efficiency: the BMW only gets 33 mpg.

The story follows a similar plotline with the Audi A8. There isn’t a diesel version available for the US market, but in Europe, customers can choose between a 3.0 TDI or a 4.2 TDI. The closest in performance to the Panamera Diesel is the 3.0 V6 TDI that delivers 250 HP and 405 lbs-ft. Fuel economy in the Audi pushes the envelope a bit further than the Panamera with 38 mpg compared to the Porsche’s 37mpg.