In an interview with Automotive News Europe, Porsche CEO Matthias Mueller said that 2014 may see a new entry-level roadster added to the brand’s lineup. This new model would be a descendent of the iconic Porsche 550, a mid-engined convertible made from 1953 to 1956 which was very successful in European auto racing.

Mueller said it would be “a small open top two-seater,” and Automotive News predicts it would be less expensive than the Porsche Boxster. The base Boxster starts at $48,100 and is the least expensive car in Porsche’s stable.

“A reborn 550 would slot in below the Boxster with a mid/rear mounted four-cylinder engine like the 550 Spyder’s 1.5-liter flat four,” writes Left Lane News. “With an emphasis on weight savings, the car could certainly be dialed in below 3,000 lbs. even with all of the necessary safety and emissions equipment required on modern cars.”

Manufacturers of small sports cars are concerned about keeping their cars’ weight down in order to improve their power-to-weight ratio, and therefore, their performance. For instance, the current Boxster’s 255-horsepower engine would be able to propel a 2,900-pound car from zero to 60 mph much faster than a 3,500-pound car.

“Power is likely to come from the new flat-4 designed for this and the next-gen Boxster/Cayman,” writes Straightline, who predicts that this engine will be turbocharged and will make about 360 horsepower.

A two-seat roadster starting at less than $48,000 would slot below most luxury sports cars, outranking only the $38,300 Audi TT and competing directly with the $47,450 BMW Z4.

Though this iconic revival likely won’t appear in showrooms until 2014, hard-core Porsche enthusiasts should keep an ear out for more news. Mueller told Automotive News Europe that Porsche plans to launch at least one new model each year, expanding the brand’s output to help parent company Volkswagen complete its goal of overtaking Toyota as the world’s largest auto manufacturer.

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