Yes! It is true! The era of compact sports cars is almost here! The latest reports from the Japan's Best Car Magazine indicate that Toyota is planning a new vehicle based on the iQ city car which will make its debut next year. According to our sources the upcoming car will be fun to drive and will carry a 1.3-liter gasoline engine, which in our opinion, will be more than enough to enjoy the small convertible. The new car will come with a price tag of $20,300 (2 million Yen). But this is not the only good news we have: Honda is also planning a successor for the old Beat! Now we have to wait and see the response from Mazda! More details to be revealed!