Its an Audi A3 Convertible. This beauty will sit along side the hatch version. Audi also plans to bring an Audi S3 convertible. The car pictured is a sort of hybrid between the current face and the face lift which will take place in 2009.
As you can see AUDI still retains the single frame grill. The roof takes away 50 litres of boot space to 300 litres (compared to 350 for the hatch). The A3 convertible is set to come in 150 HP, 200 HP and 265 HP (S3) variants.
There is also talk of diesels versions (140 and 170 HP). Currently there isn't much more information except that it won't be out in Australia for another 2 years at best.