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Consumers are looking to buy smaller cars these days forcing many of the world's automakers to focus development into the smaller models and it appears Chrysler is no different. According to a report by Financial Times Deutschland development is underway for an all new compact car based on the Dodge Hornet concept car (pictured) which was first presented at the 2006 Geneva Motor Show.

The new model is likely to be launched in a number of worldwide markets including United States and Europe with the initial unveiling expected sometime next year ready for a 2010 launch.

Thomas Hausch, vice president for international purchasing said “We are working intensely on the Hornet study and I think we will announce something on this in the future.” He also refused to rule out the possibility the Chrysler brand will build an even smaller economy model that would slot in below the 2-liter Sebring.

Gallery: Chrysler Working on Dodge Hornet Concept Based Model

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