The Porsche Cayman goes on sale in North America July 29.

In a bid to attract more customers, the Cayman starts at $49,400, undercutting its high-performance sister, the Cayman S, which starts at $59,695.

“With the exceptionally strong response we've had to the Cayman S, which has sold more than 3,000 units in just over four months, the addition of this aggressively priced new Cayman model will bring our mid-engined range to similar record sales levels, further bolstering our core sports-car lineup,” says Peter Schwarzenbauer, president and CEO of Porsche Cars North America.

The Cayman is powered by a 245-hp 2.7L 6-cyl. boxer engine that generates peak torque of 201 lb.-ft. (272 Nm) between 4,600 and 6,000 rpm.

The sleek mid-engine sports coupe will be available with three transmissions: a 5-speed manual; Porsche’s Tiptronic S activated by steering wheel-mounted rocker switches; and a 6-speed manual mated to the optional Porsche Active Suspension Management(PASM) system.

Standard equipment includes 17-in. double-spoke alloy wheels, electronic stability control and side airbags.