Porsche head of research and development Wolfgang Hatz has announced development of the 718 model has been terminated.

Porsche head of research and development Wolfgang Hatz has announced development of the 718 model has been terminated.

In the last several years there have been many rumors about a new entry-level model from Porsche to slot below the Boxster/Cayman but now the company has announced a "baby Boxster" won't happen. It was supposed to significantly boost Porsche's sales but Hatz told Autocar "the project is stopped", adding there's no reason to go below the Boxster. He went on to specify that Porsche shouldn't "chase volume" and described the Boxster as being the "perfect entry point."

We remind you company boss Matthias Müller admitted back in 2011 the company would introduce a modern version of the 550 Spyder which would act as an entry-level model with a mid-engine aluminum & steel platform developed by Audi. At that moment it was believed the smaller Porsche would also spawn an Audi R4 but now none of the two cars are expected to reach production.

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Porsche announces 718 development cancelled