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Mike Stevens | Jul 2, 2012

Fans of the three-pointed star holding out for the so-called SLC sports car may have to keep saving for the flagship SLS AMG instead.

Reports out of Europe this week suggest that the high cost of development and production has moved Mercedes-Benz to shelve plans for a more affordable sub-SLS offering.

Pegged as a rival for Porsche's legendary 911 range, the new model was expected to create a new option for buyers looking to move beyond the AMG-enhanced version of Merc's regular cars, without going all the way to the SLS.

In Australia, the SLS AMG will run you slightly less than $470,000, while the new 991 911 begins at $229,990 and tops out - for now - at $294,250.

The source for this latest report is Germany's Auto Motor und Sport, which claims that Merc's top brass have deemed the SLC too expensive to justify production.

Citing only "company sources," the report names no names, so it remains unclear if Mercedes has indeed cancelled the SLC project.

For its part, Mercedes has never announced that the so-called SLC is in the works at all, although Britain's Auto Express reported earlier this year that design boss Gorden Wagener had confirmed the name on the sidelines of the Beijing Auto Show.

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