Even smaller than the Volkswagen Polo, the three-door Up! is the first of what VW says will be a wide range of pint-sized, fuel-efficient vehicles sold under the VW umbrella.

Three trim levels will be available when the Up! goes on sale in Europe this December: the Take Up!, the mid-level Move Up! and the top-spec High Up!. The most basic version, the Take Up!, is expected to be priced at around 9,500 euros ($13,473 U.S. at the current exchange rate) and directly compete with vehicles like the Toyota Aygo and Citroën C1.

The Up! will be VW's first vehicle built from scratch under the leadership of chief executive officer Martin Winterkorn and is one vehicle that VW says is crucial its goal of becoming the world's leading automaker by 2018. Click here for more on the 2012 VW Up!

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