As strange as it sounds, Aston Martin is moving ahead with the Cygnet minicar project. It’s technically still a concept, but appears to be headed for production in the near future. Unveiled at the Geneva Auto Show, it keeps much of its Toyota-based components. The main chassis and structure is based on the Toyota iQ and it even retains the Toyota’s engine.

Powering the car is a 1.33-liter 4-cylinder with 97-hp and 90 ft-lbs of torque. What makes this Aston an Aston, however, is what the company has done on the inside. While the exterior of the car most certainly get’s Aston Martin design cues, like LED lights, a massive front grille and hood vents (not to mention some seriously high-quality paint), the interior is an ultra-luxurious oasis (although it’s still rather ugly) with plenty of black and red leather.

CEO Dr. Ulrich Bez says that with the Cygnet, Aston is looking to change people’s perceptions about small city cars, and have small equal value and prestige. He also said that the Cygnet is the type of car that is not only fun to drive, but to sit in and be seen it.

There’s still no word on the exact on-sale date or what this tiny commuter car will cost.

GALLERY: Aston Martin Cygnet

Aston Martin has just released a selection of photos of its Cygnet mini-car concept, giving us the first real look at what this luxury econo-box will be like. Officially still a concept, the Cygnet is expected to go on sale next year in the U.K. and is based on the Toyota iQ mini-car.

Sold exclusively to current Aston Martin owners and then offered to new car buyers, it will be available late in 2010. Aston Martin plans to retrofit the cars at its facility in Gaydon in the U.K., after receiving the basic vehicles from Toyota.

From the new photos the car gets a typical Aston Martin grill, which honestly doesn’t look a ridiculous as we might have expected. It also gets some aggressive hood vents, some larger Aston Martin-style wheels, some fender vents, Aston’s signature door handles and some LED taillights.

Inside it’s seriously luxurious with plenty of leather, as well as some high-tech goodies.

Under the hood we expect to find Toyota’s 99-hp 1.3-liter 4-cylinder engine.

Aston Martin expects to sell from 1,000 to 2,000 units of the car but insists the decision to sell the Cygnet has more to do with offering well-heeled owners a practical city car, rather than to help the large-engined British automaker to meet increasingly strict corporate emissions regulations.

GALLERY: Aston Martin Cygnet

[Source: AutoCar]

Aston Martin has just released details of an upcoming concept car the luxury British automaker is working on… and it’s not at all what you might expect. Rather than a high-powered exotic, this new machine, called the Cygnet, is a tiny commuter car.

The Cygnet is based on the Toyota iQ and while it sounds like an April Fool’s joke, the reality is that this mini-car has a lot of potential. For starters, Aston Martin is working on giving the Cygnet a unique Aston Martin look and a serious luxury interior. No doubt owners, particularly in large European urban centers, could use a vehicle like this and then take their $300,000 DBS out to the country on the weekend.

There is, however, an additional (and very strong)  reason the Cygnet may become a reality, and that is the increasingly restrictive fuel-economy regulations in both Europe and the United States. If Aston Martin builds a car like this with what will no doubt be a tiny fuel-efficient engine, it will offset the gas-sucking V8s and V12s that are used in the rest of the company’s lineup.

Currently the Toyota iQ is offered overseas with three engines, the most potent of which makes 99hp from a 1.33-liter gasoline engine.

“Now is the right time for Aston Martin to take this first bold step to embark on this special project – made possible with the support of an organization of Toyota’s stature and capability and the intelligent design and perfect city car package of the iQ,” said Aston Martin CEO, Dr Ulrich Bez. “Much work is still required, but I am confident that this project could become reality in the not too distant future. This concept – akin to an exclusive tender to a luxury yacht – will allow us to apply Aston Martin design language, craftsmanship and brand values to a completely new segment of the market.”

Dr. Bez even alluded to selling the Cygnet like an add-on package to compliment one of the company’s pricier models. “The offering of a ‘Cygnet’ with a DBS, DB9 or Vantage is a unique combination of opposites and a novel transport solution allowing intelligent and sensitive mobility on an exclusive and innovative level,” he said.

According to Automotive News, the Cygnet could be made available to current and prospective Aston Martin owners as early as next year with mass-market sales following the year after. The price of the Cygnet is expected to be around 23,000 Euros – or roughly $32,000.

[Source: Automotive News]

Official release after the jump:

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