Is 718 the codename for Porsche's lightweight, four-cylinder Sports Car?

According to Motor Authority...

According to a new report, Porsche isn't just downsizing its engine portfolio with a new line of four-cylinders, it's also downsizing its cars.

Germany's Autobild reports that a new Porsche sports car is coming. Codenamed 718, the magazine says it will be smaller and lighter than the current Boxster when it arrives in showrooms sometime in 2016.

Named after a Porsche race car built from 1957 to 1962, it will be based on the current Boxster/Cayman platform but will reportedly be more "uncompromising and agile," with unique styling and a stripped-down interior.

Buyers will reportedly have to settle for a manual soft top with a plastic rear window. Along with intensive use of high-strength steel and aluminum, it will help the 718 reach a target weight of approximately 2,623 pounds. The 718 would essentially play the role of the purist's sports car while Porsche takes the Boxster and Cayman further upmarket with a 2016 refresh.

Power is expected to come from two of Porsche's new four-cylinder engines. A 2.0-liter turbocharged boxer is expected to produce 282 horsepower and 295 pound-feet of torque. A 2.5-liter version could reportedly produce up to 355 hp and 346 lb-ft. Both engines are expected to debut with the 718 in 2016, while the 2.5-liter may also be used in the facelifted Boxster and Cayman.

Meanwhile, a different kind of four-cylinder Porsche is quietly heading to showrooms overseas. The 2015 Porsche Macan will be offered with an line-four that's likely derived from the 2.0-liter TFSI unit used in the related Audi Q5. In the Macan, it develops 237 hp and 258 lb-ft of torque, enough for a 0-62 mph time of 6.9 seconds and a top speed of 138 mph.

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Is 718 The Codename For Porsche's Lightweight, Four-Cylinder Sports Car?