Panamera GTS is underpowered by modern standards.
The C2S makes up for a weaker engine than the M4 by being lighter. The GTS is not exceptionally light.
I would take an M5 or an E63 over a GTS any day. But them I care about power and the cost of upgrading the sound on an M5 is a cheap option.
BTW Audi R8 is end of lifecycle. I wouldn't use it's engine as a reference any more.
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