The first 500 was an icon of our times which turned out to be a major player in the post-World War Two revival of the Italian company. The 4 July launch, again in Turin, will spearhead a European-wide marketing campaign for a car that is equally important for the continued success of Fiat Automobiles.

It will help build on the financial shot-in-the-arm the Grande Punto has been to Fiat in regaining its financial strength after a period of losses.

Developed by the Fiat Style Centre, the new model will be manufactured in Tychy, Poland. It is a 3-door with very compact measurements . . . 355 cm long, 165 cm wide, 149 cm tall with a wheelbase of 230 cm. A new Ford Ka will eventually share the same platform and will also be built in the same factory.

Fiat say the car will be enjoyable to drive and will have a choice of three engines. There will be a highly economical 1.3 16v Multijet turbodiesel unit with a 75 bhp output and two petrol engines: a 69 bhp 1.2 8v and a 100 bhp 1.4 16v unit, all with 5 or 6-speed gearboxes.

The new model has been designed to bring quality, comfort and safety to a small urban car which will have a reasonable amount of technology built-in.

"It is for the motorist who enjoys a car for day-to-day use and wishes to drive a car that is practical, environmentally friendly and accessible, " say Fiat.