The Porsche 924 is an automobile produced by Porsche AG of Germany from 1976 to 1988. A two-door, 2+2 coupé, the 924 replaced the 914 as the company's entry-level model, and was the model that finally retired the 912. In production terms, the 924 was the first Porsche model powered by a water-cooled, front-mounted engine although the similarly configured 928 was designed first. The front-engine, rear wheel drive arrangement was normal for most other manufacturers, but it was unusual for Porsche having previously only used mid- or rear-mounted engines of a boxer configuration, all of which had been air-cooled. It was the first Porsche to be offered with a fully automatic transmission.
The first official appearance of the 924 took place in November 1975 (as a press launch rather than a motorshow appearance) at the harbour at La Grande Motte, Camargue in the south of France. The model was a success with just over 150,000 produced (from 1977-1988), and it not only helped to take Porsche out of financial ruin, but created the revenue stream needed to continue building and developing the 911. The 924 was replaced by the 944 (also a successful model) in 1983 in the U.S. market, but continued to be produced until 1985 for other markets.
For the 1986 to 1988 model years the car acquired the powerplant from the 944 model and became the Porsche 924S.
Source: Wikipedia, 2012