Aston Martin is facing governmental requirements to lower its fleet CO2 emissions. Since Astons are high performance, high fuel consumption cars they make a lot of CO2. Aston Martin's solution to the problem is the Cygnet.
The Cygnet is a facelifted Toyota IQ (a model not sold in the USA) with an upscale interior, snazzy paint job and not much else. Available only to current Aston Martin owners, it is intended to be a city runabout while the Vanquish is safely tucked away.
Aston Martin has yet to officially announce the Cygnet for production, but indicated it will be available for retail sales in 2010. Initial sales will be limited to the UK and Europe, but U.S. sales have not been ruled out. Expect the Cygnet to be priced above the $30,000 mark with annual production to be capped at 2,000 units.
A cygnet is a baby swan. To my eye, this one is an ugly duckling.