Forget about the endless rumors and speculation; Rolls-Royce->ke74 has officially confirmed the arrival of a new model by mid-2016. The announcement came by the tried-and-tested method of a press release, which is about as direct and clear-cut as you can get. The British automaker didn't dive into the specifics of the model with Rolls-Royce CEO Torsten Müller-Ötvös opting only to say that the new model will be an "exciting and thoroughly contemporary interpretation of a pinnacle drophead tourer."

Based on that statement, you can rule out the rumored Rolls-Royce SUV->ke145 as the model Müller-Ötvös is describing. Our best bet is that this model will be the Wraith Drophead, which not only fits the description, but has also been spotted in recent months doing some test runs while dressed in heavy camouflage.

The press release also said that the new car is undergoing prototype testing as it "enters its next stage of development."

It's hard not to get excited about this announcement because we've been waiting for Rolls-Royce to expand its lineup for years, and the arrival of the Wraith in 2013 began that process. Hopefully, this new car will continue this trend.

Click past the jump to read more about Rolls-Royce's future model.

Why It Matters

Bentley's->ke15 not the only luxury->ke505 brand that's thinking expansion these days. Rolls-Royce's confirmation that a new car will arrive by 2016 gives it a more versatile lineup to offer to its niche client base.

More importantly, this announcement is a clear message from Rolls-Royce. It's not going to sit idly by and watch the competition release one new model after another, proving that the company is ready to push the action when called upon.

2016 Rolls-Royce Wraith Drophead

It's too bad that Rolls-Royce stopped short of actually confirming the arrival of the Wraith Drophead even if that seems like the direction the company is going.

If this new model is, in fact, the Wraith Drophead, we expect it to carry the same 6.6-liter V-12 engine as the Coupe version. That powertrain produces 624 horsepower and 590 pound-feet of torque, good enough to achieve a 0 to 60 mph time of 4.4 seconds to go with a top speed of 186 mph.

Should the Wraith Drophead does come to fruition, expect it to come with a sticker price of somewhere around $300,000.

Rolls-Royce SUV

Rolls-Royce has yet to confirm production plans for its SUV. At this point, the SUV is still in its embryonic stage, which pretty much means that there's still nothing there to talk about other than to point out that there have been "discussions" about it.

There is optimism that an SUV could move past the "discussions" stage into a concrete development plan. It helps that BMW's aggressive development of new architecture can be used for top-range models like Rolls-Royce. That could make it easier for Rolls to justify building an SUV without having to worry about the costs that come with it.

But that's all there is at this point.

Eventually, our guess is that there will be serious talks within the company on the feasibility of a future Rolls-Royce SUV in the near future. When that will be is the important question to ask.