We spend time with the little Italian roadster, with a Japanese skeleton.

WHAT IS IT? Fiat’s brand new performance flagship, the Abarth 124 Spider. It’s based on our reigning Car of the Year – the Mazda MX-5 – but has a more powerful, turbocharged engine and an even greater emphasis on performance, courtesy of firmer suspension and stronger brakes.

WHY ARE WE TESTING IT? Because on paper, this is one of the most important cars Wheels will drive this year. Keen pricing, boosted equipment and turbo performance mean it could deliver a more convincing package than its Mazda twin. If Abarth hasn’t mucked it up, that is…

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THE WHEELS VERDICT So much more than a rebadged MX-5. Sure, the Abarth’s Japanese bones are obvious, but its unique styling, plusher cabin and turbo personality ensure it has its own, distinct character. Fiat is yet to reveal pricing, but if it lands in the low-$40K bracket, it’s a worthy rival to our reigning COTY.

PLUS: Character; handling; performance; price and equipment MINUS: No reach adjustment on the steering wheel; not as pure as an MX-5

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Beyond Fuji’s straight, their squealing tyres echoing off the huge grandstands, a group of drifters hurl Toyota Chasers and AE86s around a purpose-built circuit.

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Yet it’d unfair to dismiss the Abarth as a rebadged Mazda. It’s more Italian than that, thanks to the devil in its chassis tuning. Abarth’s engineers wanted a package that felt racier and feistier (read more Italian) than a MX-5, so they fitted stiffer suspension with Bilstein dampers, larger four-pot Brembo brakes and a standard LSD. They’ve upped the power too. Lurking beneath the Abarth’s wide, blunt bonnet is a 1.4-litre turbocharged four-cylinder petrol, tweaked to produce 125kW/250Nm. That’s 7kW/50Nm more than you get in the most powerful MX-5.

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Wait for the tacho needle to rise, however, and the turbo soon has its wits about it. Around Fuji the Spider feels surprisingly swift (Abarth claims 0-100km/h in 6.8sec) and it pulls hard to the 6750rpm cutout.

It sounds good too, courtesy of quad exhaust outlets, and then there’s the slick, mechanical-feeling gearshift, which makes swapping cogs a joy. The handlings not bad either. Through the bends the Spider’s firmer suspension means it feels more locked down than an MX-5, and more composed, yet its chassis remains brilliantly balanced.

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Does all this make it better than an MX-5? The purists will say no. It’s not as true to the barebones, rear-drive roadster philosophy that the MX-5 nails. Where the Mazda comes alive high in the rev range as you wring every last drop of performance from its engine, the Abarth’s turbo donk and torque-rich mid-range mean it’s lazier, more muscular, and more relaxing to drive everyday. So while it mightn’t be quite as rewarding, it’s a more convincing all-rounder.

SPECS Model: Abarth 124 Spider Engine: 1368cc, 4cyl, sohc, 16v, turbo Max power: 125kW @ 5500rpm Max torque: 250Nm @ 2500rpm Transmission: 6-speed manual Weight: 1060kg 0-100km/h: 6.8sec (claimed) Fuel economy: 6.4L/100km Price: $40,000 (estimate) On sale: October