FIAT, a car-maker since 1899, is now back on the long and treacherous road to market acceptance in Australia, after a 17-year absence, with the Punto light car. In $22,990 JTD Dynamic form, the Punto might just be the most relevant vehicle of 2006, since it delivers Toyota Prius hybrid-like fuel economy, more torque than a Mazda3 Maxx, and virtually the cabin space of a Toyota Corolla – all in a package penned by one of the world’s all-time great designers, Giorgio Giugiaro. Throw in German engineering substance, courtesy of Fiat’s dalliance with General Motors (there’s plenty of 2007 Opel Corsa lurking underneath), and there is something for everyone in this likeable little Fiat. Obviously, those 107 years of experience hasn’t been wasted.