Despite numerous reports claiming Audi’s new Cayman-rival is in development, senior officials have confirmed there is no 'baby' R8, or R4 as most sources have been calling it, currently in the works. However, before we rule out the new model, remember that carmakers are well known for their tenacity in denying the existence of products until as late as possible.

Last week an Audi spokesman told Automotive News the carmaker has no plans to build such a car. "It was never in our product planning," he told reporters. While the latest denials from Audi aren't encouraging, perhaps the Germans are taking a leaf from Ferrari's book. The Italian sports carmaker denied unequivocally the existence of any Ferrari 2+2, yet that is exactly what will be sitting at the Ferrari stand at October’s Paris Motor Show.

The R4 was expected to be a more focused and sporty TT with a better looking body and styling cues from the larger and more expensive R8 supercar. Previous reports claimed the car was due by mid-2011 and that it would feature a brand new mid-engine platform.

Considering its closest competitors would have been the aforementioned TT and the Cayman/Boxster from Porsche, which of late has been having a much more influential role in the affairs of Audi and its parent company VW, it’s not surprising officials have decided against developing the car.

2011 Audi R4 rendering