First Porsche denied any rumors regarding a new entry-level model, but then confirmed it shortly after. The new model, a two-seater open air sports coupe will be placed just under the Boxster and should arrive by 2013.

The new Porsche Spyder will be based on the Volkswagen Bluesport Concept, as well as the future Audi R2. The roadster will measure in at 3.99 meters long and feature the same folding canvas roof.

Under the hood Porsche will use a 200 HP 2.0 Liter TFSI power plant borrowed from the VW Golf GTI, that will be mounted behind the driver and in front of the rear axle. An S version should be good for 280 HP. The new model will be inspired by the original Porsche 550 Spyder, unveiled at the Paris Motor Show back in 1953. The smallest member of the Porsche family will be priced starting at around £28,000 ($46,000) when it hits showrooms a couple of years from now.

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