Update: Click here to view our story with the latest Junior renderings and information.

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Now that Fiat has confirmed it’s working on a small Alfa Romeo internally called the “Junior,” the international motoring press can begin speculation on what it’ll look like. The new car is pegged to rival BMW’s Mini and Audi’s upcoming small car. Production of the Junior will start in 2008, which will be powered by a new 1.4L turbo developing up to 150hp.

Our friends over at Autoblog Italy tipped us off that Quattroute magazine has created two renderings of a potential Junior. We're really digging the mini-Maserati style headlights and aggressive body kit, so hopefully the new car will be similar to this. A leaked Alfa Romeo marketing slide claimed the car would have three-doors, be under 4m long, and priced above €16,000. If Alfa can get the pricing right, the luxury small car market suddenly gets an important new competitor.