July 4th is the big day for Fiat’s new 500 - that’s when it gets launched, 50 years to the day after the tiny rear-engined 500 that this version is inspired by appeared. It goes on sale here at end of the year, and we reckon this picture gallery reveal a car well worth waiting for. Prices will start from around £8000.

However, we learned that Fiat are very happy about 500×500 online booking initiative. All 500 units of the fiat “500 wants you edition” were sold out in 5 hours and 45 minutes. One every 40 seconds!

If this is an harbinger of things to come for the new Fiat 500, things are going to get interesting after the 4th of July. The success of the initiative is even more interesting if we consider that 20% of bookings came from outside Italy (where most of Fiat’s promotional effort has been expended).

Today’s 500 is front-engined and front wheel-drive, whereas the original had a twin cylinder, half-litre, air-cooled engine (hence the 500 name) mounted at the rear. The new engine range will include a 60bhp 1.2 petrol, a 70bhp 1.3 turbodiesel and a 99bhp 1.4 petrol.

The new 500’s interior design is much influenced by the old, though it’s vastly more sophisticated. The instruments are contained within a single circular binnacle, just as with the original, but you also get a rev counter, concentrically arranged within the speedo, as well as an information display. The dashboard comes in a wide range of finishes, these determined by your choice of trim theme (they will have modern and unusual names)and exterior colour. The white steering wheel (black is also available) is specially treated to prevent it getting grubby.

Dinky little headrestraints are standard - the new 500 is expected to score the maximum five stars in the euro-NCAP crash tests, a first for a city car - while the embossing in the seat trim echoes the motif on the car’s nose. The black, gobstopper gearknob is inspired by the original, although the gearlever is mounted much higher for convenience.

The new 500 is a hatchback, with folding rear seats. its lines echo the original’s to an uncanny extent, no small feat given that the powerpack has been shifted from the rear to the front, and that today’s version has been thoroguhly crash-engineered. The part-glassed roof references the fabric sunroof which every original version came with. There’ll be an unusually wide range of colours available, many of them non-metallic, classic shades popular in the ’50s and ’60s.

The cute, chrome Fiat motif on the nose was a feature of early versions of the first 500 - note the tiny air intake slot above the numberplate. Fiat will be marketing the new 500 as a green car - all versions meet the strict euro V emission regulations, and all will come in under 140g/km, and several versions well below that. Insiders are saying that quality will be on a par with Toyota’s. In 2008 there will be 155bhp 1.4bhp turbocharged Abarth version of the car, with upgraded suspension a bodykit and aerodynamic tweaks.

Source: Fifth Gear on FIVE