Fiat this weekend celebrated the 50th birthday of what's likely the most significant car of its 109-year history, not only with a huge party at Monte Casino — the closest thing to an Italian square in Southern Africa, but it also launched a car perhaps just as important as its spiritual predecessor.

A car like none other, the original Fiat 500 was introduced in '57 and effectively went out of production in the late 'seventies following several facelifts and innovations. Still today, originals are endemic to most Italian cities; 'cinquecento' has touched the lives — and hearts — of every Italian since and mostly anyone across the world who happened upon it. Still today basically anyone who comes across an old 500 is touched, excited.

The 500 nameplate has lived on over the years in some form or another but those cars never quite lived up to the expectations staked by the original.

That's about to change...

The 2009 Fiat 500 arrives amidst a huge revival for the company — recent newcomers like Panda, Grande Punto and the all-new Bravo have seen Fiat's until recently flagging fortunes turned around into brilliant resurgence and as they say in the classics: you ain't seen nothing yet...

Styled on the great original, the new 500 is front-engined and front-driven as opposed to the old car's rear engined set-up, but this time 500 is every bit as chic, stylish and trendy as the great original - and it's already scooped the European Car of the Year gong, too...

Penned by Fiat Centro Stile, the new car is a triumph in great Italian design. Every line has been carefully drafted to emulate the legend, and it works — brilliantly. A vital car for Fiat, new 500 caresses the company's most poignant history as it grasps its very future...

Without doubt the most important car of 2008, 500 was previewed by the 2004 Trepiuno Geneva Motor Show concept and the newcomer hasn't strayed far from that or the legendary 500 original.

Available only in three-door incarnation and in tiny dimensions (albeit not quite as tiny as the original) 500 measures in at just 3.55m long, 1.65m wide and 1.49m high on a 2.33m wheelbase — about the same size as a Citroen C2.

But 500's dimensions are emphasised by cute lines and a distinctive, classic-modern look.

An elegant, modern nose albeit so reminiscent of that great original, features Fiat's latest red badge flanked by a classic chrome moustache, while a conventional tailgate maximises practicality at the rear.

A glass roof panel keeps the cabin bright — as bright as 500's huge spectrum of colours and custom options. Inside, a dash-mounted gearlever and car-coloured facia, distinctive upholstery and funky large, round speedo with neat electronic read-out set 500 apart

500 was initially launched on three engine options: 51kW 1.2-litre eight-valve and a 75kW 1.4-litre 16V petrol units and a 55kW 1.3-litre 16-valve Multijet turbodiesel are offered with five and six-speed gearboxes. Future versions are expected to feature Fiat's forthcoming groundbreaking 100bhp per litre 66 to 81kW 900cc twin-cylinder likely to deliver a 20 percent improvement in fuel economy over the current 1.2-litre.

The petrol versions will be released in South Africa within the coming month.

Featuring among the cleanest-burning engines on the road, 500 also boasts a five-star EuroNCAP safety rating thanks to seven airbags and a sound structure. Other bonuses are a an unlimited range of individual personalization options via wheel styles, colours, accessories, mobile tech integration and even cabin fragrances among many other special touches, while a five-year 500 000km warranty is available in Europe and should be available here, too.

The new Fiat 500 takes a quantum leap ahead in terms of comfort and safety, technology and equipment and represents a most advanced solution for the spirited driver in an entertaining and practical, environmentally-friendly and fun little car.

The original Fiat 500 had a profound effect on my formative years — my mom drove one, my dad raced one and I can't remember how many we had in our extended family. Methinks the new one will have just as profound effect on my kids...