As brilliant as the GT-R is, its premium price tag and limited availability means it will be out of reach for most sports car lovers for some time to come. Then there’s the new 370Z but it too can be a bit expensive for younger fans. Sadly, Nissan’s affordable sports car, the Silvia (200/240SX), no longer exists but that may soon be set to change as a replacement for the car is rumored to be in the works.

With rivals Honda and Toyota both planning their own respective compact sports cars in the form of the CR-Z hybrid and Toyota-Subaru joint sports coupe, Nissan is not prepared to stand idly by and will come out with its own version.

According to AutoExpress, the new car will be available as a roadster and will feature styling inspired by 2006’s Urge concept car. Power is expected to come from a 1.6L four-cylinder petrol engine turbocharged to the tune of 200hp (147kW). This should see the car accelerate from 0-60mph in around six seconds and comfortably reach a top speed of 140mph.

While Nissan is yet to officially confirm its development, nor offer any hints, inside sources claim the car’s release has been delayed due to the financial slump and should arrive on the market late in 2011 as a 2012 model.