Even though the first batch of iQs (see gallery here) aren't scheduled to arrive in the U.K. before January 2009, Toyota has opened its order books to customers and simultaneously revealed pricing for its new minicar. It may be one of the smallest cars on the market measuring just 2.985 mm (117.5-in) in length, but what it lacks in size it more than makes up for with its x-large price tag. On-the-road prices begin in the UK from £9,495 ($16,400 or €12,000) for the entry-level iQ 1.0 VVT-i manual and go all the way up to £11,495 ($19,800 or €14,500) for the fully equipped iQ 2 with a CVT gearbox. -Continued

The slightly larger and undeniably better looking Fiat 500 starts from £9,500 for the base 1.2-liter model while Toyota's other minicar, the 3.4m long PSA Peugeot-Citroen co-developed Aygo, from £7,175.

Partially justifying its premium pricing, Toyota has packed its 3+1 seater city car with plenty of standard equipment. Available in two grades, iQ and iQ 2, both come with standard 15-inch alloys, heated electrically adjustable door mirrors, air conditioning, six speaker audio system with auxiliary socket, nine airbags as standard - including world-first rear window airbag, ABS, Electronic Brakeforce Distribution (EBD) and Vehicle Stability Control with steering assist (VSC+) and Traction Control (TRC).

The iQ 2 trim level adds high-gloss alloys, front fog lamps, automatic headlights and rain sensing wipers, smart entry and start system, electronically retractable exterior mirrors and climate control.

At launch, the iQ will initially be offered with a 1.0-litre VVT-i engine and according to Toyota, when mated to a 5-speed manual transmission, it returns 65.7mpg UK (54.7mpg US or 4.3 lt/100 km) and 99g/km (provisional).