AutoCar reports Porsche’s head of R&D, Wolfgang Hatz, officially announced to have canceled the 718 project.
Rumors surfaced throughout the past couple years about a possible 718 model to pose as a possible entry-level model. Some were even speculating the 718 could be a replacement for the Boxster or the Cayman. Either way, the project is now being scrapped and the plans are being cancelled.
Hatz said Porsche’s position on the car was that there was no reason to go below the Boxster, which starts at $51,400. But begin adding the slightest of options and the Boxster would easily surpass the price of a decently loaded 911 as well. Nonetheless, it’s Porsche’s perfect starting point in their eyes.