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The Porsche 931 (924 Turbo) was the first real performance version of the 924 model line. Porsche had recognized the need for more performance as the 924 model was introduced. With the addition of a turbocharger, the 125 hp engine (94 kW) output was raised to 177 hp (132 kW), a significant increase. Porsche marketed this model in Europe first, gaining good reviews from automotive magazines for the power improvements and the newly added four-wheel disc brakes, which were standard for the European models. Introduction into the North American Market ccame nearly six months later. The intial offerings in that market were somewhat different. Power output was reduced due to emission changes required. The base model continued with the standard 924 brake system. Trim and paint were upgraded. There was also an "S" model added with a very rare "S" decal on the hood. This consisted of the M471 suspension, Koni shocks and the 4 wheel disc brake system with 16 inch (406 mm) wheels.
While many aspects of the 924 were improved upon, some reliability issues plagued the 1979-80 models. The 1981 and later models had a vastly improved injection system with the DTC ignition triggerd by the flywheel. Even in US trim, this was a fast car by 1981 standards. Reliability was improved and the car did sell well. But the time for the US models was limited as Porsche had decided on an early introduction of the 944, a successor to the 924 Turbo, in early 1982. Production of the model continued in Europe until 1984.
Other models derived from the 931 are the 924 Carrera GTS which had enough success that the 944 body was evolved from it. The 924 GTS competition model and 924 GTR LeMans racers had a successful career, though very short, on the race track.