[Image Source: Sky News]

While Americans and Canadians were celebrating their respective independence days this week, over in Italy, Fiat was busy ramping up celebrations (complete with fireworks) to launch its own independence of sorts. The independence from a fiscally disastrous past.

Under corporate turn-around guru Sergio Marchionne, Fiat's gifted CEO has taken one of Europe's largest carmakers back from the brink and with the new cheap 'n cheerful Cinquecento, is poised to start making some serious jack.

The new Fiat 500 already has 25,000 orders in advance of its official premiere. Half of the sales goal for this year. Prices haven't yet been released.

[Source: Sky News]