Yep, it's true: The Toyota iQ will be sold as a Scion for 2011. It will be powered by a 1.3-liter engine mated to a CVT, which is the only transmission available. Scion says the car will "make over 90 horsepower." No official fuel economy number yet, but Scion says high 30s combined.
Other things of note: Six-speaker sound system, 3+1 seating, skid and traction control, ABS and brake assist.
Also on display was a Five Axis customized iQ, which I think is awesome looking.
Overall, I love the looks. I love the idea. I think it'll be well executed and possibly put a nail in the Smart car coffin. I, however, hate the fact that you can't get a manual transmission. Then again, with only 6–8 percent of all cars are sold as manuals; I guess it's just a sign of the times (and many CVTs are getting better EPA fuel economy, too). It's a cool car regardless.