Rolls-Royce will bring back the legendary "Ghost" nameplate for its "small" luxury sedan, which goes into production for 2010. The concept version, the 200EX is shown here.

Rolls-Royce is giving up the Ghost, at least so to speak.  That’s the name the British maker has decided to appliqué on the back of its new “small” luxury car, which was heretofore known as the RR4.

The tradition-bound maker’s choice is no surprise.  Names like Shadow and Ghost have repeatedly reappeared on branches of its family tree since Charles Stewart Rolls and Henry Royce teamed up in 1904.  The Silver Ghost was the first truly successful model the partners produced.

The Ghost name was formally announced at the Shanghai Motor Show, this morning — though TheDetroitBureau.com first revealed it would reappear in a report last month.  Notes Rolls-Royce Motor Cars CEO Tom Purves, that nameplate “is one of the most revered names in the automotive industry, evoking images of adventure and technical innovation. The name reflects this new model’s breadth of abilities. The first cars to bear the Ghost name were known not only for impressive dependability and refinement but also great flair and style.”

The new Ghost could prove equally critical for Rolls today, considering the lackluster success of the carmaker’s current line-up, its various models based on the Phantom platform and carrying prices in the ultra-exclusive $400,000 range.  Sales have been particularly hard-hit by a recession that has impacted luxury as well as mainstream manufacturers.

The Ghost will come in at roughly half that figure, putting it in the range of the much more successful Bentley Continental line-up – which includes the GT coupe, GTC convertible and Flying Spur sedan.

Information trickling out over the last year suggests the Ghost will get a 6.6-liter turbo V12 making an impressive 500 horsepower, which will be pumped through a new 8-speed automatic gearbox, from ZF, the luxury maker will share with its German parent, BMW AG.

The Ghost has actually worked its way through a number of names since a prototype version first made the rounds of the auto show circuit, several years ago, including both RR4 and 200EX.

Holding true to the unusual body style of the bigger Phantom, the Ghost sedan will feature rear “suicide,” or reverse-opening doors.  Only a 4-door version has been confirmed, for now, but according to CEO Purves, “This car will be the first in a new generation of models.”  Like its arch-rival-to-be, the Bentley Continental line, it’s expected Rolls will offer sedan, coupe and convertible versions of the new Ghost.

The first version will go into production late this year as a 2010 model.  Ghost will be produced on its own line at the Rolls-Royce plant in Goodwood, along England’s south coast.  But it will share paint, wood and leather workshops with Phantom, the company notes.

The production model is expected to take its bow at the Frankfurt Motor Show, in September.