Earlier this month Scion released photos of a new concept model, and on Wednesday they revealed the actual product at the LA Auto Show.

The new model is called the iM Concept. What does that mean? According to Doug Murtha, VP Scion Division, the i stands for individuality, intriguing and a good fit for customers' incomes. The M stands for modern, multifaceted and magnetic.

"The iM Concept marries sleek styling with the versatility of a 5-door hatchback for those who want the freedom to load up their car with friends and gear and escape their daily routines," Murtha said as he presented the car. "These buyers want something comfortable, technologically advanced, with great features and styling that doesn't look like everything else on the road."

Toyota released some more details about the car itself.

"The iM Concept communicates its sporty handling and racing inspiration through a wide stance and low ride height for a grounded appearance. It features front and rear bumper overhangs that create dynamic surfaces, as well as geometric grille inserts, deep air intakes and fog lights. Large 19-inch forged alloy wheels sit flush with the body while vented rotors with 4-piston front calipers work with the adjustable-height racing suspension."

   

Scion plans on producing the iM Concept, but must first have "outstanding fuel economy and a price under $20,000." Scion also announced a production version will be coming to dealerships in 2015. But wait, that's not all.

Murtha added the iM Concept will debut at the New York Auto Show, along with another model.

"The two models we're debuting in New York next spring are just the beginning for Scion," said Murtha. "We plan to bring three new products in three years to our showrooms, offering a variety of exciting options for current and new Scion customers."

Expect to know more about this new Scion model in April when the New York Auto Show takes place.

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