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UPDATE 2: Ducati has just informed us that the Monster 796 is being considered an early 2011 model year motorcycle, we’ve update our post to reflect this.

UPDATE: Pricing for the 2011 Ducati Monster 796 will be $9,995 in the USA.

The rumor floodgates were wide-open this weekend about a possible late model entry by Ducati that would see the Italian company add a Monster 796 to its 2010 model lineup. We can now confirm that the 2011 Ducati Monster 796 has been added to the Monster product line, and will fit in-between the 696cc and 1100cc versions of the Monster.

The impetus for this late addition is reportedly because of poor sales in the 1100cc range of Monsters, which has prompted Ducati to further segment the line-up with a middle offering. The Monster is actually Ducati’s best selling line of motorcycle, and the brand is keen to maximize its return on the newly updated design, and is seemingly pinning its hopes on this late entry. Video, photos, and more of the 2011 Ducati Monster 796 below.

Ducati North America has announced that the Hypermotard 796 will be in dealerships before the New Year, and some dealerships will have the new motard as early as this weekend (that’s tomorrow, or today if you work in the A&R office!).

If you’re having a hard time finding the right gift for that special motorcyclist in your life, this might be the chance to get them what they really want this year. Nothing says Merry Christmas like a $9,995 lightweight red Ducati Hypermotard 796 with a bow on it. Press release after the jump.

Sometimes rumors don’t take long to come to fruition. Take the case of the 2010 Ducati Hypermotard. Just last week we reported that Ducati had a 696 DS motor based babytard in the works, and today Ducati has officially announced that motorcycle. As we expected the new bike is named the Hypermotard 796, and it shares almost all of the same core design elements as its larger counter-part, including the bar-end mirrors (as we expected).

The biggest news with this release is that the Hypermotard 796 will live up to its name, boasting a 808cc displacement (88mm x 66mm bore & stroke respectively). Many had said the Hypermotard 796 would still feature the 696cc displacement dispite its nomenclature. Ducati instead stroked out the 696 motor, resulting in a comparable 81hp to the Monster 696, while boosting torque to 55.7lb•ft. More details after the jump.