Fiat’s 124 might share its moniker – and a few styling cues – with 1967’s European Car of the Year but the lightweight two-seater roadster owes its existence to a Japanese legend, namely the MX-5.

Fiat’s designers have done an excellent job of putting a great deal of distance between the two cars and although there are a couple of nods towards the original – particularly the swallow-tail rear and twin power domes that adorn the long bonnet – the 124’s task is clearly not to evoke memories of its namesake in the same way that the 500 does.

The 124 is broad and muscular, but not overly aggressive, with the expansive bonnet, low-slung cockpit and long wheelbase lending it a classic roadster look. Even the Abarth barely hints at the additional performance that’s available.

If the Fiat looks bigger than the Mazda that’s because it is. The two cars do not share a single body panel and the front and rear overhangs on the Italian extend a little further beyond the wheels.

The general consensus among the several people that I canvassed was that the Fiat just about has the edge over the Mazda in the looks department but the increased proportions do have a noticeable impact on the chassis’ 50/50 weight distribution.

With that additional metalwork there’s inevitably more mass too and, while but it’s not a huge increase over the svelte MX-5, there’s no escaping the fact that much of it is hanging out over the front end of the Fiat.

The subject of this week's review is no ordinary 124 though. This is the Abarth – Fiat’s tuning division – version and that means that the 1.4-litre MultiAir engine produces 168bhp instead of 138 and an additional 36lbft of torque. It’s a modest increase, but this is a car that weighs barely more than a tonne, so the impact on performance should be significant.

It is also the only version of the 124 that’s available. Anywhere.

Beneath the skin the Abarth shares more with the MX-5 than it does with its Fiat sibling and, like Mazda’s most expensive version, it gets Bilstein dampers and rear limited-slip differential.

The cabin is almost a direct transplant of the MX-5’s interior. The biggest giveaway is the seven-inch infotainment screen atop the dashboard which is even running the same software. If you’re paying attention when you start the motor you might notice that the Fiat badge has, sensibly, replaced Mazda’s when the infotainment system boots up.

It’s not a bad decision – the ‘if it ain’t broke don’t fix it’ adage applies here – because the system is very easy to operate using the command dial. The screen does respond to touch – a tad reluctantly it must be said – which, in the Fiat, is the less awkward option because the controller is situated under your left elbow.

By refraining from fiddling with the interior too much – apart from subtle revisions to the upholstery – Fiat has inherited a well-organised, well-built and thoughtfully laid out cabin. There's other, subtle, embellishment to help identify the Abarth model: A scorpion badge, a larger edition number plaque, a vivid red rev counter and a button to engage sport mode.

The steering wheel is adjustable for rake only, but the driving position is excellent. You sit wonderfully low, with everything within easy reach.

Having driven the 124 before, I know how how simple it is to raise and lower the manual roof. Just a single latch releases the hood from the windscreen frame and dropping it is a one-handed operation. However, my test car was fitted with the removable hard top which is, unfortunately, not the sort of task you’d undertake without both forward planning, and a friend to help so, despite the wonderful weather, I kept the roof on. It does look pretty good, but apart from added security, I can’t see any other benefits.

The quad exhausts produce a pleasantly sporty sound, even at idle, and the turbocharged engine certainly does a fine job of delivering on that promise. The sprint to 62mph takes 6.8 seconds but it’s the in-gear acceleration that really demonstrates the Abarth’s strengths. In fourth gear it takes just 8.3 seconds to accelerate from 30 to 60mph.

Whereas the standard 124 was soft and compliant Abarth’s version is firmer and much less forgiving, particularly over broken surfaces and sharp edges where there’s an uncomfortable amount of shudder and shake transmitted through the body. Over gentler bumps at high speed there are still hints of its Fiat sibling’s suppleness.

The pay-off is a car that possesses excellent body control, sharp handling responses and tremendous levels of outright grip. It isn’t subtle in how it goes about its business, some of the delicacy of progressiveness that you’d find behind the wheel of an MX-5 is missing, but not all.

The six-speed manual gearbox has a nice positive, clean action and well-judged gear ratios so there's a real pleasure to be found in slipping through the ratios to extract the maximum performance from the engine. The brakes are nice and progressive with good feel.

The Fiat 124 is a distinctive car, on the surface, at least. Scratch away, however, and you’ll find more than a little of a Japanese roadster lurking underneath.

While designers have gone to great lengths to put some distance between the Italian and its donor car on the outside the interior is a very different matter.

I don’t think that’s a bad choice, after all, it might not be original but it all works beautifully and, when you’re behind the wheel, you’ll be grateful that all the controls – command dial aside – are within easy reach and right where you expect them to be.

Abarth have worked their own magic on the little roadster and, perhaps with a few compromises, produced the car that the 124 should always have been. Visually, it isn’t a great deal different to its Fiat sibling but, under the skin, the changes the Italian tuners have wrought are enough to create a very different animal.

Thanks to increasingly strict engine emissions regulations, if you do want one, you’ll probably have to be very, very quick.

Abarth 124 Spider

Price: £32,500

Engine: 1.4-litre MultiAir turbo

Transmission: 6-speed manual driving the rear wheels

Max power: 170hp

Max torque: 184lbft

Max speed: 144mph

Acceleration (0-62mph): 6.8sec

Urban: 33mpg

Extra urban: 55mpg

Combined: 44.1mpg

Emissions (CO2): 148g/km

For more information visit www.abarthcars.co.uk