Reports have circulated for some time now that Porsche will introduce an entry-level two-seater, inspired by the classic 356 and James Dean's famous 550.
This week, the rumour mill has fired up again, fueled by comments from Porsche boss Matthias Mueller in an interview with a German newspaper.
"I can imagine that such a modern version of the famous 'James Dean' Porsche would be well-received by our customers," Handelsblatt newspaper cited Mueller as saying in an interview this week.
"A small open top two-seater would be good for us," he added.
These latest comments follow an endorsement from Volkswagen chief Prof Dr Martin Winterkorn last year, describing Mueller as the man to force growth and increased sales out of the Porsche brand.
“We have to make progress with Porsche,” VW CEO Prof Dr Martin Winterkorn told press in Europe.
“Mueller is the right person to deliver it. He has excellent ideas and a very clear concept of how new products have to be brought in line.”
Even before Mueller's promotion to the top spot, former Porsche CEO Wolfgang Duerheimer said that offering a significantly cheaper model is a top priority for the German carmaker.
With Volkswagen's stated aim of becoming the world's number one carmaker by 2018, a volume-selling Porsche would go a long way to achieving that goal. The upcoming Cajun is one path - this reported entry-level convertible could be another.
If a new sub-Boxster model is in the works, it will likely be based on Volkswagen's mid-engined Bluesport concept, and powered by one of Volkswagen's small-capacity turbocharged engines.
Like the original 550, you can put your money on the new Speedster being more about balance than raw output, with weight likely capped at around 1000kg.