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"Sadly, Nissan have announced that after more than 30 years, the Silvia will be discontinued in mid 2002 as the SR20DE and SR20DET do not meet incoming Japanese emission standards (odd, because they are not as tough as ADR, which Nissan Australia managed to meet, some writers have suggested this is really to clarify the market for the 350Z, due in 2003). but Nissan Australia kept the car on sale in Australia until some time in late 2002, when all the available shells are used up. The GT-Spec cars are a way of using the remaining Japanese-spec wings.
There may be an S16 developed for 2004, 2005. This was hinted at during the Australian launch of the 350Z. We don't have any hard details at the moment, but will be sure to post them as news develops.
The following image was posted recently in a Japanese magazine. We are in the process of having it translated, so at this point, no guarrantee is made as to whether or not this information is genuine. But it sounds encouraging.
Apart from the new Z-car and Skyline R35, the upcoming XVL-sedan will also spawn the next generation S16 Silvia. If this is the future of the new, stylish and profitable Nissan, then Japanese enthusiasts have much to celebrate.
With strong hints of the Honda S2000 front fascia and the TVR Cerbera in the rear. The current S15 Silvia has already been praised for its low price (less than US$20,000 equivalent), good looks and strong performance (250-ps, FR-layout, turbo-charged). The next generation S16 will surely raise the performance bar, and will make the Z-car look like a superfluous purchase. It will have a high-performance 2-litre engine without turbo-charging, relying on variable valve timing for high-strung pulling power, which will keep the price even lower than now (and boosting the price and image of the Z-car, which will be positioned slightly above it)."
---------taken from Dori Star at Drifting forums.