Although not nearly the off-road monster the H2 is, the Cayenne has far more technology and design work into it that does the H2. I would not expect the demographic that would buy the H2 to also like the Cayenne but it certainly is more vehicle than the Disco (all-around) and it is much more than soccer-mom Porsche.
Personally, I think that if Subaru made it and sold it at $27K with nice options then it would easily sell 100,000 units the first years out (v.s. 12,500 for Porsche).
If I could get around the looks, I would order one myself.....and I am a hard-core air-cooled guy (1998 C2S Widebody).
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