The MQB-based convertible will be significantly cheaper than its main rivals.

In a world where SUVs and crossovers are easily dominating the market all around the planet, having two similarly-sized convertibles on sale is definitely not a great idea. Audi knows that and, according to a new report from the trustworthy AutoBild magazine, the German manufacturer will axe both the A5 and TT convertibles, and will replace them with a single new cabrio model.

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The answer to Audi’s problems with declining compact convertible sales is called the A4 Cabrio. The brand with the four rings will resurrect the once famous nameplate with a brand new model based on the A3. The vehicle will switch from today’s expensive longitudinal engine platform of the A5 to a standard MQB architecture with a transverse engine layout.

Thanks to the clever modular underpinnings, the new A4 Cabrio will be roughly the same size as the main competitors from Germany, the Mercedes-Benz C-Class Cabriolet and BMW 4 Series Convertible, but will be significantly cheaper. In fact, according to our source, Audi’s new cabriolet could be up to €10,000 more affordable, or about $12,215 at the current exchange rates.

Gallery: 2017 Audi TT Roadster

Surprisingly, AutoBild claims the new A4 Cabrio will be engineered with electrification in mind, which means a plug-in hybrid or a fully electric versions are possible. However, the publication doesn’t offer a source for this information or provide any further details, so, for now, we have to take the rumor with a grain of salt.

Since 2011, sales of the A5 Cabrio are continuously declining. Last year, a total of 7,404 units were delivered in Europe versus 14,470 A5 coupes on the same market. The strongest full year for the convertible was 2011 with a total of 11,557 sales across the Old continent. As for the TT Roadster, the numbers are even lower at 3,971 deliveries in 2017.

Source: AutoBild, CarSalesBase

Gallery: 2017 Audi A5 / S5 Cabriolet