Suddenly the decision not to import the "Mini-killer" MiTo makes a lot more sense:

German carmaker BMW AG (BMW.XE) said Tuesday it has signed an agreement with Fiat SpA (F.MI) regarding possible cooperation for their Mini and Alfa Romeo brands aimed at reducing costs.

Leave it to Italians to design a car specifically meant to go head-to-head with a company they just signed a co-operation agreement with.