Luxury doesn’t have to be big anymore. At least that’s the message coming from Aston Martin’s chief executive, Ulrich Bez, who’s hoping his company’s diminutive Cygnet will strike a balance between size and prestige. Some may feel that such a small car is out with the traditions of the Aston Martin brand, but Ulrich seems to be saying the famous marque has to move with the times –especially if issues of urban space (or lack of) and the environment as a whole are to be taken seriously.

The company is also shifting its focus to more developing nations – and particularly, yes, you guessed it, China. Emerging markets now account for around 25% of the company’s sales, whereas when Ulrich joined the firm, the vast majority of sales were made within the United Kingdom. As domestic markets appear to be shrinking under European austerity measures, it is to the Far East, India and China that many companies see their future.

With a burgeoning middle and upper class in China, for example, the demand for luxury products is growing by the day. But Chinese cities are not well suited to traditional luxury cars simply because their size makes it difficult to get around the very busy streets. The cygnet, then, may offer the perfect compromise between luxury and practicality. Not only is it small enough to get down most back streets with ease, it is also more environmentally friendly – complying as it does with European emissions standards.

At £30,000, it’s not the cheapest city run around ever built, but for those wishing to get a brand new Aston Martin, it will seem more palatable than a brand new V8 Vantage from the same marque. And from all we’ve seen so far, it looks to have the reliability you would expect from the brand – so any owner won’t have to call their vehicle breakdown insurance provider every time they hit the motorway.

If the well moneyed Chinese take a liking to the Cygnet and all its condensed luxury, Aston Martin could be about to enjoy huge success.