After Montreal a month ago, Mitsubishi Motors is showing its newest subcompact at the Canadian International Auto Show held in Toronto this week.

The subcompact, not yet on sale in the U.S. or Canada, but recently available in other parts of the world, is not yet named for this market. It carries the Mirage badge in other markets, but it is not impossible that we’ll see it carry the Colt badge on our shores.

Mitsubishi’s newest five-door subcompact promises, per the company, class-leading fuel economy and value for money in a youthful, fun-to-drive hatchback.

Said to be wider than Chevrolet’s Spark, taller than the Hyundai Accent and longer than the Scion iQ, the new car will arrive in Canada and the U.S. this fall.

Featuring a 1.2-liter, three-cylinder MIVEC engine mated to a five-speed manual or CVT transmission, the new car is expected by Mitsubishi to achieve superb fuel economy in city, highway and combined driving.

2014 Mitsubishi prototype small car MitsubishiMotor Sales of Canada

Based on the ‘Global Small’ concept car unveiled by Shin Fujioka 12 months ago, the new entry will become the fifth model in the company’s North American line-up. It will likely rank as one of the most affordable and fuel-efficient new cars available on our markets.

The subcompact will roll on 165/65R14 tires and the engine’s output will be of 74 horsepower at 6,000 rpm and 74 pound-feet of torque at 4,000 rpm.

Mitsubishi said its research reveals subcompact car consumers hold five key purchase considerations: fuel economy, value for money, price, reliability and exterior styling. The new Mitsubishi is expected to hit squarely on all five, leading the industry in several.

Mitsubishi will announce final retail pricing closer to the sale date, however it expects an MSRP in the low teens.

Seven body colors have been set: Green Metallic, Dark Grey, Blue Mica, Red Metallic, White, Cool Silver Metallic and Black Mica.