Under the hood is a turbocharged, intercooled version of Fiat’s 1.4-liter MultiAir engine, good for 160 horsepower and 170 pound-feet of torque. Not bad, considering the fact that the standard 500 – which is only 170 pounds lighter – is down on power by 59 horses and 72 torques. Of course, Abarth has tuned other important bits like the suspension, wheels and brakes and the tuning company has spruced up the 500′s visuals inside and interior a bit, too.

Not surprisingly, we’re eager to get behind the wheel of Abarth’s hot hatch. And we’re already scoping out aMini Cooper S for a lovely little comparison.

Fiat’s contribution comes in the form of the new 500 ”Pink Ribbon” limited-edition model, of which 250 examples will be sold in the United States through the firm’s official dealerships beginning from October.

The Italian company said it will donate $1,000 per purchase, with a minimum of $50,000 contribution to the BCRF.

“We are honored to partner with an upstanding organization like The Breast Cancer Research Foundation that supports a cause so important to our consumers and our company,” said Laura Soave, Head of FIAT North America.

“The Fiat 500 Pink Ribbon edition offers our FIAT consumers a unique and stylish way to express their support, help fund breast cancer research and ultimately drive change,” she added.

The special edition Fiat 500 is based on the Lounge model and features several bespoke design elements such as the dark pink bodyside stripe with the “500″ logo and an accenting “ribbon” in light pink. Buyers will be able to choose from two exterior finishes, Argento (silver) and Bianco (white).

Inside, the 500 Pink Ribbon edition sports a black leather interior with unique pink accent stitching and signature “500″ logo embroidered on the front seatbacks and a pink ribbon embroidered on the floor mats.

Other bespoke features include the hand-stitched pink accents on the Nero leather steering wheel and a pair of Pink Ribbon key fobs.

The MSRP for the limited-run 500 is $22,500, which includes a $500 destination fee.

Fiat’s 500 sales in North America will likely fall short of the initial target of 50,000 units in 2011, because of the delays in opening new stores. Currently, the brand has opened 100 out of the 130 stores planned for the US this year.

The Italian company chose to open new stores instead of using the existing Chrysler dealer network, in order to differentiate its niche product. However, the original plan, which called for most delaers to be operational by February, failed since at that time only about a dozen were ready.

This, according to Laura Soave, head of the Fiat brand in North America, was due to the dealers waiting longer than anticipated for the government permits. Soave admits that “We lost the whole first quarter”.

“We have coverage now, so it is time for us to turn this up. We ‘ve already activated the smaller guerilla-type marketing, but there are bigger events that will get us bigger awareness,” Soave added.

Since the 500 went on sale in North America it has proven to be a hit: 7,982 units were sold in the US so far, with 3,038 delivered in July alone. Canada is also a successful market for the stylish Italian city car, with 3,064 sales from March until July.

Fiat intends to make up for the lost time with no less than 500 (!) marketing efforts, ranging from placing 36 cars in Times Square and inviting people to watch movies in the jumbotron, to launching a new iPad application.

We’ve seen all sorts of things done with the Fiat 500. People have chopped the roof off, covered it in gold,planted trees in it, taken it rallying and even moved the engine to the trunk. The latest, however, could prove the most intriguing.

Founded by a couple of former Pininfarina designers, a new outfit called Camal is working on the project you see here. Called the 500 Marcia Corta (Italian for short gearing), the idea is to give the Cinquecento a more rally-inspired look.

The signature elements are quad rally lamps, giant grille opening and full aero kit with side skirts, fender flares and rear ring. A rear bumper mimics the look in front, integrating a new exhaust system.

The creators are reportedly looking for funding to get their project off the ground. In the meantime, check out the renderings in the gallery for a closer look.

When the Fiat 500 launched here in the U.S., we didn’t expect Texas to be one of the vehicle’s largest markets. But according to Ward’s Auto, that’s exactly the case. Fiat boasts a total of 10 franchises in the land of cowboy boots and ten gallon hats – a figure that’s only bested by the likes of California and tied with New York and Florida. The Italian automaker’s North American boss, Laura Soave, says that a host of green and tech-industry workers, sprawling suburban living and the fourth-largest metropolitan center in the country in Houston, Texas is the perfect place for the 500.

Even more surprising is word that most Fiat dealers are ordering up the 500 with an impressive manual transmission take rate. In a country where most drivers believe their left foot is only good for mounting and dismounting their Hoveround, a full 70 percent of 500 dealer orders have been placed for manual transmission models – a figure that has surprised Fiat execs. Is there hope for the row-your-own way of life, or are these suckers destined to languish on dealer lots? Let’s hope for the former.