Earlier, I speculated that Capcom would be working on a next-generation Street Fighter, specifically SF V. However, Yoshinori Ono has stated that Street Fighter V is not in development as it lacks the budget and the time that is needed to make it happen.
— Yoshinori Ono (@Yoshi_OnoChin) July 15, 2013
The Street Fighter team is currently busy working on Ultra Street Fighter IV, the newest version of this generations Street Fighter game. This latest update was announced at Evo 2013 at Capcom’s booth.
You can view the trailer for Ultra Street Fighter IV below, along with some screenshots.