Report: Audi planning R4 to compete with Cayman, Boxster

Audi is planning a third sports car in addition to the long-standing TT and recently-introduced R8, according to the latest issue of Germany's Autobild. The car would be sold under the R4 moniker, the report said.

Like the R8, the R4 would be a two-seater with a mid-engine configuration. The base model would have at least 200 horsepower, and pricing would start around 40,000 euros. The car would be contracted of aluminum and steel, weighing around 2,600 lbs. High performance models with power between 280 horsepower and 350 horsepower are also likely, the magazine said. It would compete with the Porsche Cayman and Boxster.

The proposed R4 project would be a joint effort with sister company SEAT, which is planning a similar vehicle. The SEAT model -- which would be sold as a coupe only -- would likely cost around 30,000 euros and be limited to around 6,000 cars. The R4, on the other hand, would be higher volume with 35,000 cars and would come as a coupe or roadster. The Audi will have an entirely unique exterior and a better interior than its SEAT counterpart. The R4 would likely arrive in 2010. [See full cover PDF here].