IT'S seventy years since Carlo Abarth first founded his tuning company in Italy and to celebrate, the company is launching a very special version of the 500 Abarth.

Only 1,949 examples of the Abarth 695 70 Anniversario special edition are being produced - one for each year since the company was first founded - and some of them will be available from UK dealers towards the end of the year priced at £29,695.

They will come equipped with a novel manually adjustable rear spoiler - "Spoiler ad Assetto Variabile" if you prefer it Italian style - which can be set in a dozen different positions between zero and 60 degrees. In the maximum setting, the spoiler increases the aerodynamic load by up to 42kg at a speed of 124mph delivering improved dynamics and stability.

Outside, the new Abarth 695 70 Anniversario features some iconic style cues from the past and present, including a new Monza 1958 green livery - one of five available paint finishes -which pays tribute to the colour of the first 500 Abarth which set six international records at Monza. Grey details, including the rear spoiler, body kit, and mirror caps, scorpion decals on the bonnet, special badges on the rear flanks and a chequered sticker on the roof complete the look.

Standard features include 17-inch SuperSport alloy wheels, red Brembo brake calipers, a Record Monza exhaust, limited slip differential and Xenon headlights.

Each car will come with an individually numbered plaque and there are a number of exclusive interior features including front sports seats featuring the colours of the Italian flag and an infotainment system with a high-definition seven-inch screen and an integrated Abarth Telemetry application created to measure performance. Completing the standard equipment list are automatic climate control, daytime running lights, LED fog lights and model specific mats.

The new 695 70 Anniversario is equipped with a 180hp, 1.4-litre turbocharged petrol engine which gives a top speed of 139mph with the spoiler set to the zero degree position and a 0-60mph acceleration time of less than 6.7 seconds.