Looks like Fiat 500 based I think it is a PShop though - the rear looks a bit askew compared to the rest of the car.
In the 2nd picture, the silver on the top doesn't match the silver from the bottom, at least that's what i think. I'd have to lean towards a p-chop.
Courtesy of the NY thread: http://www.fastlanedaily.com/episode/20070417 scroll to about the 2:52 mark.
Fiat 500 indeed. I dont think this is a photoshop though. I'm guessing real and its a cracking looking little car they've made.
I think its neat. Give it a good power to weight ratio, keep it very simple inside and very light, no power gizmos galore and such, price it at $20K or so and I would be interested. Even better if it was hybrid powered but still quick. Terry
Well, at least it is a love child from two charismatic, rear-engined, rear-wheel-drive cars. Talking about two substantial similarities actually exist between the parents!