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Despite numerous denials, Ferrari will indeed unveil a new entry-level 2+2 coupe at the Paris Motor Show in October. The new model codenamed F149, will be priced less than the a target price less than the F430’s $190,000.

The F149 will be based on a heavily modified GranTurismo architecture. It will be powered by a new direct-injection engine, codenamed F136Y with a capacity of 4.3 liters, but with an output smaller than the F430.

Sources say it will have all-new injection rails, new intakes, new cylinder heads and new valvetrains and will debut a type of throttle body never used before. Direct injection will bring an instant fuel-efficiency increase of between 5 and 8 percent, and an all-new gearbox will provide additional gains.

Production is expected to be around 10,000 units a year.