Every Abarth reflects the high performance brand’s direct connection with competition, and the new 695 Tributo Ferrari, the Scorpion believes, takes these links to a new level, with improved performance matched to day-to-day usability. The 695 Tributo Ferrari mimics Aston Martin's Cygnet project, in that case the British sports car maker has dressed small Toyota's iQ up in its own bodywork. Both cars come with a similar price tag and will look to position themselves as "fashion" accessories.

This exclusive Abarth car – just 152 examples of the 695 Tributo Ferrari will be available in right hand drive form in Britain – is priced at 35,500 euros (£29,600). On the outside the new car’s livery is inspired by Ferrari’s models, with carbon wing mirrors and Corsa Grey wheels and front air intakes.

Powered by a 1368cc turbocharged engine, producing 180bhp at 5500rpm and 250Nm torque at 3000rpm, the 695 Tributo Ferrari can accelerate from 0-62mph in seven seconds and has a top speed of 140mph. However, the frugal engine can return 43.3mpg on the combined cycle.

The car features a comprehensive list of equipment which includes: five airbags, electronic stability programme (ESP), torque transfer control (TTC), "Sport" button, power steering, automatic climate control, Xenon headlights, Blue&Me hands-free infotainment, Abarth leather steering wheel, Record Monza’ dual-mode exhaust, Abarth Corsa by Sabelt seats and 17-inch alloy wheels. Mounted behind the steering wheel are the paddles for the electro-hydraulic Abarth Competizione gearbox which has manual and auto modes. Pressing the Sport button on the dashboard activates a more racy setting for the gearbox, engine control unit and steering for an even more responsive drive. The original Abarth 695 was introduced in the mid-1960s. The pinnacle of this series was a 38hp engine – though fine-tuning could raise this to over 50hp.