We knew it was coming, but now it’s official; the 2013 Fiat 500 Turbo has made its debut today in the lead up to the Pebble Beach Concours and is set to launch this fall priced from just $20,200, including destination. The car squeezes in between the regular 500 and high-performance Abarth model, positioning Fiat likes to call the “sweet spot” in the 500 lineup, and with a turbocharged version of the 500’s 1.4-liter MultiAir engine delivering 135 horsepower and 150 pound-feet of torque, it certainly is sweet. 

For the record, that’s a full 34 horses more than regular 500’s output and just 25 shy of the output of the 500 Abarth. But it’s not just power that the 500 Turbo benefits from, as it also gets tuned suspension, 16-inch aluminum wheels, uprated brakes, a sporty exhaust note and a functional aerodynamic bodykit.

A five-speed manual is also fitted exclusively, one with a 3.35 final-drive gear ratio for quick acceleration and higher top speed. Fuel economy as high as 34 mpg on the highway is also promised for this model.

Fiat says its new 500 Turbo is ideal for those who love the look of the 500 but are seeking more performance for their daily drives without the compromises of the hard-edged 500 Abarth. Additionally, the car’s affordable pricing makes it ideal for those in the tuning scene. After all, how many turbocharged models packing a sports chassis and attractive styling are there for around $20k?

Inside, the Fiat 500 Turbo features a sports steering wheel and bucket seats, special stitching on some of the trim and available leather trim.

Note, 2013 also sees the introduction of the high-quality Beats by Dr. Dre audio technology offered in the 500 range, a first for the compact segment and the first for a Fiat. The available Fiat 500 Beats by Dr. Dre sound system features an 368-watt amplifier powering six-speakers and a subwoofer.