Fiat 500 news - Carinissima! -2007

If you took the time to peruse our 100 Sexiest Cars gallery a while back, you'll know that Top Gear has a bit of a soft spot for the original Fiat 500. In fact, we put the original city car top of our definitive list.

And, after many months of rumours and whispers, we've finally got some concrete details about the all-new 500.

Due to be released in Europe on July 4 - exactly 50 years to the day after the original 500 made its debut - it's the car that could spearhead a new golden era for Fiat.

Why? For a start, it looks great.

Based on the same platform as the Panda (and, interesting, the next-gen Ford Ka - all three cars will be produced at Fiat's Polish factory), it does the whole 'bringing an icon up to date' thing far better than, say, the new Beetle.

Stubby front and rear overhangs and a cute, curved glasshouse make the 500 look retro without appearing schmaltzy.

At just 355cm long, it's a properly tiny city car. Admittedly the new 500 is significantly longer than the original - which measured just under three metres from bumper to bumper - but it's still only as big as the current Panda.

Predictably, the new 500 shares a lot under the bonnet with the Panda, too. The initial engine line-up comprises a 75bhp 1.3-litre diesel, a 69bhp 1.2-litre petrol and (to Top Gear's great excitement) the same tuned 1.4-litre unit as the Panda 100HP.

OK, so the engine's up the front, unlike the original rear-engined 500, but it's a decent power hike over the 13bhp of the 1957 Nuova.

Inside the cabin, it's clear there's been a concerted drive to up the quality of the materials. Only a few bits of switchgear have been carried over from the Panda - and Fiat is describing it as 'a leap forward in terms of comfort, technology and equipment'.

So it's clear where Fiat's pitching the new 500. It's not going to be dirt cheap - expect the 500 to be slightly more expensive model for model than the Panda - but no one does a stylish city car like Fiat.

The new 500 is due to reach the UK next January, though we're unlikely to see the base-spec model in right-hand drive.