Alfa Romeo is playing down reports that the Mito GTA has been canned, saying no decision has been made on its future.

The car has always officially been a concept and has yet to be earmarked for production, said an Alfa spokesman.

The GTA concept had Fiat’s all-new 1.8-litre turbocharged engine, equipped with direct injection and variable valve timing. It produces a hefty 240bhp; that would have made the hot Mito faster than a Mini John Cooper Works.

But Alfa has reportedly decided against the Mito GTA because of the financial climate. The car had been due on sale this summer, undercutting the Mini JCW by up to £2000.

The spokesman said, “There are question marks about the project but there is an unashamed keenness to get the green light.”

Even if Alfa does remain committed to producing the Mito GTA, the car is unlikely to arrive in showrooms until next year.