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In 1954 it was decided at Steyr-Puch to resume car production after the war. Because of the high costs associated with the development of a completely new design, an agreement was made with Fiat to acquire and adapt the
body in white of their
Fiat 500-model. Of the body, only the engine cover and later the roof was produced in-house. On the other hand engine, transmission and carriage were all manufactured by Steyr-Puch.
The engine, co-designed by Ferdinand Porsche, was a two-cylinder (16 hp/12 kW)
flat engine which proved to be far more smooth running than the
in-line engine used by Fiat. It brought for that time good driving behaviour, especially in mountain rides. The first Steyr-Puch 500 was launched in 1957 and it was a hit. At first it was offered only with a folding roof and it was anticipated as a draw from motorcyclists as a buying audience. The 'Puchwagen' as it was called, was the official car for the Austrian AA-service.
WIKIPEDIA
http://en.wikipedia.org/wiki/Puch_500