The base Panamera with the V-6, for example, manages 18 mpg city and 27 mpg highway for 21 mpg combined. Upgrade to the all-wheel-drive system of the Panamera 4 and that drops only slightly to 18/26 mpg city/highway.
Stepping up to the V-8 engine in the Panamera S reduces gas mileage to 16/24 mpg, while the 4S scores the same despite adding all-wheel drive.
For the 380-horsepower Panamera S Hybrid, gas mileage is actually competitive with much more mundane, eco-conscious sedans with far less equipment and nearly zero pretensions toward serious sporting ability; it rates 22/30 mpg city/highway for a combined rating of 25 mpg.
The Turbo and Turbo S undo the Hybrid's good, but only at a small premium over the non-turbo V-8 models. Both turbo Panameras rate 15 mpg city and 23 mpg highway for 18 mpg combined.