Abarth and Ferrari aren't just linked by their parent company - but also in the creation of racing cars in the past, such as the Ferrari 166/250MM Abarth, the 1953 Mille Miglia entrant. Well, now the pairing is back - this time to create the rather tasty Abarth 695 Tributo Ferrari hot hatch.

The new car differs from its more humble brethren by having its 1.4-litre Turbo T-Jet 16v retuned to develop over 180bhp. A paddle shift system that goes under the name MTA (Manual Transmission Automated) is standard Ferrari fare, as are the new 17in alloy wheels, uprted suspension and braking, a 'Record Monza' variable back-pressure dual mode exhaust, and a delicious Scuderia Red paint job. The interior gains smart 'Abarth Corsa by Sabelt' seats and a black (and red) leather steering wheel.

The question is - how does it compare to Aston Martin's upcoming and controversial Cygnet mini car, and does it signify the opening of the exclusive hatchback floodgates? Will we now see Lamborghini-badged Volkswagens and Rolls-Royce flavoured MINIs? Don't bet against it...