The new Porsche Cayenne, built on the same platform as the VW Touareg and Audi Q7, has been spied yet again. The SUV has been significantly reduced in size, and may come in hybrid form.

Honey I shrunk the SUV!  Check it out: more spy pics of the new 2011 Porsche Cayenne, believed to be a diminutive version of the German automakers mammoth SUV, is expected to share a new platform with the Volkswagen Touareg and the Audi Q7.  Granted, sharing a base with the Q7 in no means indicates a smaller vehicle.  After all, LA Times writer Colin Ryan referred to the Q7 as "house sized."  And he's right.

However, Porsche is also looking to respond to comments calling the Cayenne the stereotypical beast of fuel inefficiency.  The Cayenne will likely appear in petrol, diesel, and hybrid versions.  As you can see in these photos, Porsche is developing their SUV as a more squat vehicle.  So much smaller, in fact, that previous rumors had this model sharing a platform with the Audi Q5.

With Porsche advancing on total control of Volkswagen, it may come as little surprise that a new Porsche Cayenne would be spied so frequently.  Being readied for a first-quarter 2010 launch, the new 2011 Porsche Cayenne will probably be spied a few more times in 2009 before its debut.

New 2011 Porsche Cayenne latest close-up spy photos