124 Spider: America's best Fiat

The 2017 Fiat 124 Spider is stylish, fun to drive and priced well under $30,000 for all but the top version. It's easily the best car in Fiat's four-vehicle U.S. lineup and a worthy successor to the storied original Fiat 124 Spider that debuted in November 1966.

But the reincarnation of that iconic Italian sports car is built in Japan by Mazda.

The two-seat convertible coupe -- powered by a turbocharged inline-four -- shares a platform with Mazda's MX-5 Miata, and the cars are built in the same plant. But the 124 Spider has a Fiat engine and transmission that together produce 160 hp and 184 pounds-feet of torque, both higher than the comparable MX-5. The 124 also has different body panels that change its dimensions enough to separate it from its Japanese cousin.

Pricing for the 124 Spider, which some have dubbed the "Fiata," is competitive with MX-5 pricing. The Classica base model has a $25,990 sticker, including a $995 shipping charge. The top-end Abarth, with an additional 4 hp and a six-speed automatic, starts at $30,540, including shipping. The midrange Lusso model starts at $28,490 with shipping.

With each trim level, an optional automatic six-speed transmission adds $1,350.

• Powertrain: Turbocharged, 1.4-liter four-cylinder, six-speed manual transmission
• Technology: Optional 7-inch touch-screen infotainment system, Bose audio system
• Safety: Four front airbags, optional rear-vision camera, blind-spot monitoring and adaptive front headlamps
• Target: IHS Automotive projects annual U.S. sales volume under 10,000 vehicles.
• Competitors: Mazda MX-5 Miata, Mini Cooper convertible, VW Beetle convertible
• Strengths: Interior and exterior styling; seat comfort; ride and suspension; short-throw manual transmission; one-handed roof operation, airflow with the top down is unobtrusive and relatively quiet.
• Weaknesses: Turbo lag is evident at times; cupholder is ridiculously hard to reach.
• Bottom line: After a day of throwing the 124 Spider around San Diego and a makeshift autocross track in a stadium parking lot, it's easy to see why Fiat Chrysler paired up with Mazda to resurrect the 124 Spider. The MX-5 provides "good bones" for Fiat's 50th anniversary 124 Spider.

But consumers who have built a relationship with the Miata since its debut in 1989 might be wondering why they would choose a new Fiat 124 over the beloved Mazda. There are differences, but they are largely incremental. What Fiat has done with the 124 Spider is improved its own lineup at relatively little expense and added incremental sales possibilities for struggling dealers.

Sales of Fiat's 500c cabriolet could be affected when the 124 Spider arrives in U.S. showrooms this summer. But since every model that Fiat has introduced in the U.S. has cannibalized its own sales, this is nothing new.