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To celebrate the start of production of its new Toyota iQ-based Cygnet city car, Aston Martin has announced two special launch edition models called White and Black.

Set to go on sale in April, both are offered with the iQ's 1.33-liter four-cylinder gasoline engine producing 98HP, matched to either standard 6-speed manual gearbox or optional CVT automated transmission, and each will be produced for a strictly limited run.

The British automaker says the Cygnet with the manual gearbox completes the 0-62mph (100km/h) sprint in 11.6 seconds while returning an estimated combined fuel economy of 56.5 mpg UK, equal to 47 mpg US and 5.0 lt/100km.

If we had to give a prize for the most ridiculous new car of 2010, it would go hands down to Aston Martin's Cygnet luxury mini. The British firm's pint-size model is nothing more than a Toyota iQ (Scion iQ in North America) decorated with fancy-pansy wraps - something like those silly replicas we show you from time to time with an even sillier price tag.

Ah, Harrods. Not only is it the swankiest and largest department store in the world, but starting from today and running through December 11, it will also be home to Aston Martin's new luxury city car, the Cygnet. The British firm's polished up Toyota iQ is making its global debut at the renowned shopping center in London occupying a prominent position in the store's Brompton Road window display.

Now that the Aston Martin Cygnet has officially received the green light (previous post here), the brand of James Bond has put together again CEO Dr. Ulrich Bez and design director Marek Reichman for the Cygnet PR video below.

The 4-passenger Cygnet, based on Toyota's iQ city car, is meant to provide Aston Martin owners something more practical for daily use within cities and still offer said owners the level of exclusivity they desire. That means it can be ordered with all the same interior and exterior colors, leathers, and materials found on any other Aston.

Say 'hallo' to Toyota's bling-bling shiny iQ Disco, a concept model that was created by the firm's German division purely for demonstration purposes as the oversized Japanese disco ball on wheels will tour dealerships all over the country, starting from showrooms in Cologne.

It's officially official; Aston Martin today confirmed that the Toyota iQ-based Cygnet luxury city car is to go into production with sales to start in 2011. The British automaker said details on pricing and specification will be announced by the end of this year. However it is believed the Cygnet will cost between £30,000-50,000 in the UK, or about US$47,500-79,000 / €34,000 -57,000 at the current exchange rates, and will initially be sold only to existing Aston customers.

Originally shown as a pre-production concept car at this year's Geneva Salon in March, the Cygnet is an Aston Martin-flavored version of the Toyota iQ city car with unique styling cues such as the front grille, bumper designs, exterior trim and alloy wheels, plus a high-luxury interior with details inspired by the automaker's supercar range.

"It is time to think differently. Aston Martin is honest and we don't make compromises" says Aston Martin CEO Dr Ulrich Bez.