Ford will offer both this sedan and a hatchback version of the 2011 Fiesta.

The new 2011 Ford Fiesta will nudge into hybrid territory when it’s released later this year, delivering a rated fuel economy of up to 40 mpg on the highway, the automaker announced today.

The Fiesta is the latest – and most highly-promoted – among a series of European products Ford is migrating over to the States.  Though there’ve been a number of changes made to the interior, as well as to bumpers and lighting, all to meet American safety standards, Ford maintained the European car’s emphasis on fuel economy.

The American version of the Fiesta will be powered by a 120-horsepower 1.6 liter Duratec inline-four engine featuring a number of technologies designed to improve mileage, Ford boasts, including Twin-Independent Variable Cam Shift Timing, or Ti-VCT, and electric power-assisted steering.

The engine is mated to an electrically-shifted clutchless six-speed manual gearbox, dubbed PowerShift, that Ford claims will deliver automatic convenience with manual efficiency.

There are no plans to import the European diesel powertrain for the 2011 Ford Fiesta, however.

The 40 mpg City rating, according to government data, will make Fiesta the most fuel-efficient model in its segment, at 5 mpg better han the Honda Fit, and 4 mpg over the Toyota Yaris. The 2011 Ford subcompact will meanwhile get 29 mpg in the EPA City cycle.

Ford will launch the 2011 Ford Fiesta this summer at a starting price of $13,995 – including destination charges.

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