WE'VE seen it all before, though on a much larger scale. A couple of years ago Citroen and Peugeot - or the PSA group - collaborated with Fiat to produce the C8, 807 and Ulysse people carriers.
Now the French duo is at it again, only this time at the opposite end of the motoring spectrum, and in league with Japanese producer Toyota.
The companies jointly threw £1 billion at a new factory in the Czech Republic with the plan of turning the European city car market on its head.
And the result is a trio of mechanically identical but visually different budget priced models in the shape of the Citroen C1, Peugeot 107 and Toyota Aygo.
When it comes down to selection, personal taste will no doubt prevail because there's not much to separate these extremely desirable little hatchbacks.
Toyota's offering the Aygo - pronounced I-Go - hit showrooms at the start of this month and is the company's smallest car to be launched in Europe.
Like its siblings the Aygo has just the one engine, a one-litre three cylinder unit producing 67bhp, though a 1.4-litre diesel is due at the start of next year.
Fuel economy is first class, the insurance rating rock bottom at Group 1 and with prices starting at £6,745 Toyota is understandably confident of appealing to what it describes as the urban youth scene.
What's certain is that this doesn't feel like a cheap car. Sure some corners have been cut to save on cost, but those nasty brittle plastics favoured by some manufacturers are nowhere to be seen.
In fact the cabin layout has lots of funky touches like a translucent section around the heater control that glows orange at night, circular air vents and the CD sound system has an auxiliary socket for connecting a portable MP3 player.
There's also storage for the likes of sunglasses, mobile phone, maps and bottles, though none of it is actually out of sight.
As for occupant space this is strictly a four-seater car capable of shifting four adults in relative comfort provided the front seats aren't slid fully back.
Those in the back have to make do with hinged rear windows and even the tailgate is actually just a piece of glass leading to what is the Aygo's greatest failing, a tiny boot.
Those opting for the tested Aygo Plus trim - one step down from top spec Sport - will be able to fold their rear seats down individually or together, but even then we aren't talking serious load capability.
Perhaps the most surprising aspect though is just how well this car drives.
Its 998cc engine is actually the lightest internal combustion unit on sale anywhere and combined with an overall feather weight and speed sensitive steering makes for some nippy manoeuvres round town and the ability to squeeze into tight parking spots.
The little Toyota can even hack it on the motorway as well and has an aggressive exhaust note to match, while its wide track results in stability at speed and positive handling.
Safety is also a priority, the Aygo Plus featuring anti-lock brakes, front and side airbags, ISOFIX child seat mounts and Toyota's Minimal Instrusion Cabin system.
FAST FACTS
Toyota Aygo Plus 1.0 5dr
Price: £7,495
Mechanical: 67bhp, 998cc, 3cyl petrol engine driving front wheels via 5spd manual gearbox
Max speed: 98mph
0-62mph: 14.2 secs
Combined mpg: 61.4
Insurance group: 1
CO2 emissions: 109g/km
BiK rating: 15%
Warranty: 3yrs/ 60,000 miles; 3yrs paint; 12yrs anti-rust