Built to mark Skoda's 130th anniversary, the Fabia 130 is the fastest version yetThe Fabia 130 is a breathed-on version of the Fabia Monte Carlo, produced to celebrate Skoda's 130th anniversary – the clue is in the name – and it's the fastest Fabia yet, although it doesn't wear the vRS badge reserved for the Czech firm's sportiest offerings.The Monte Carlo had 148bhp; this one has 175bhp, thanks to a pumped-up version of the same 1.5-litre turbocharged petrol engine, paired with the same seven-speed dual-clutch automatic gearbox.A vRS designation would suggest this car is much punchier than it is – perhaps level with the 201bhp Polo GTI from Skoda's owner, Volkswagen. However, the Fabia 130 costs almost as much: a fiver under £30,000 versus £31,415 for the fastest Polo. Mini, meanwhile, will sell you a 201bhp Cooper S for barely more than £29,000.ProsAccessible funOld-fashioned usability insidePlenty of room for a small carConsEngine lacks characterPrice is on the high sideInterior doesn't feel as sporty as the lesser Monte Carlo modelWith 175bhp and a £30,000 price tag, Skoda's anniversary special sits awkwardly close to more powerful rivalsExclusivitySkoda says only 650 Fabia 130s will be offered in the UK – so, effectively, you're paying for the exclusivity of a limited run. But what else do you get? Not as much as you might think. Despite this being a top-of-the-range model, heated seats and adaptive cruise control are both optional extras, for example.AdvertisementAdvertisementBeneath the skin, though, there's better news, because this is more than merely a styling package. The suspension has been lowered by 15mm (although the Polo GTI's adaptive dampers aren't available) and the steering recalibrated compared with the standard family hatchback.There are 18in alloy wheels and tweaks to the traction control, throttle response and steering weight in Sport mode; there's now a Sport+ setting for the traction control, too, so it cuts in later.You can't help but wonder whether Skoda could have been a bit more adventurous with the looks, though. The tiny blue-and-red 130 logo on the wings and the black strip across the boot lid, which hark back to Skoda's classic rally liveries, are cute, but can you imagine how good this car would look with, say, stripes redolent of those old liveries running along the bottoms of the doors, or across the bonnet and roof?Inside jobThe interior feels rather plain, too. Skoda has stripped out all the red accents of the Monte Carlo, which made it feel sporting and special, replacing them with grey ones that don't. Red-striped upholstery is retained, however, which lends a whisker of sporting character.AdvertisementAdvertisementSo too are the chunky sports seats, which are comfortable yet hold you securely during cornering. And because there's so much legroom in the back, their size doesn't compromise rear-seat comfort.There are 380 litres of boot space, too, and the dashboard design – with physical buttons for the heating and ventilation – is a breath of fresh air compared with the touchscreen-centric interiors that are so common these days. There's even a manual handbrake.On the roadSetting off in a Fabia 130 is unspectacular. This isn't a no-holds-barred racer; it's designed to be easy to live with day to day, and it feels exactly like that. Through towns and villages the ride is firm but not unforgiving; the gearbox shifts swiftly and smoothly, while the engine note remains muted.It would be stretching it to say the Fabia 130 came alive on the smooth, twisting roads of the Peak District. But it did reveal hidden depths.AdvertisementAdvertisementLet's get the bad news out of the way first: it's the engine. Yes, it provides a solid wave of torque, so there's plenty of urge regardless of gear, making it accessible and forgiving. However, there's no reward for holding on to the revs with the gearchange paddles behind the steering wheel, no high-rev payoff to get your spine tingling. Nor is there any aural excitement, merely a booming engine that lacks character and joy.Swift shifts and intuitive controls make the Fabia 130 easy to enjoy – even if the engine leaves you wanting moreThe upside is that the Fabia 130 has a terrific chassis. It's soft enough to absorb the mid-corner bumps that might rattle your fillings in more uncompromising cars, yet also agile and precise. The well-weighted steering allows you to place the nose exactly where you want it.Adjusting the accelerator allows the car to shift on its bushes, and a well-judged lift can prompt it to tighten its line, although the front end rarely runs wide. There simply isn't enough power to overwhelm the front tyres, so to adjust your trajectory you can simply turn in more tightly and squeeze on the accelerator, letting the front tyres grip and haul you out of the bend grinning like an idiot.The Telegraph verdictAlong a beautifully clear stretch of Tarmac above Hathersage, I understood the Fabia 130. It's a throwback to warm hatchbacks of years gone by, not too much power – just enough to be fun – and a chassis that inspires confidence, allowing you to push its boundaries safely while still feeling responsive.AdvertisementAdvertisementSadly, the joys of a warm (as opposed to hot) hatch are a rare treat today. The Fabia 130 should probably be a grand or two cheaper and I wish it had a zingier engine, but Skoda has had to make do with what was available and has come up with an immensely likeable small car that will delight driving enthusiasts.The factsOn test: Skoda Fabia 130Body style: five-door hatchbackOn sale: nowHow much? £29,995 on the road (range from £21,055)How fast? 141mph, 0-62mph in 7.4secHow economical? 50.7mpg (WLTP combined)Engine & gearbox: 1,498cc four-cylinder petrol engine, seven-speed dual-clutch automatic gearbox, front-wheel driveAdvertisementAdvertisementMaximum power/torque: 175bhp/184lb ftCO₂ emissions: 126g/km (WLTP combined)VED: £440 first year, then £195Warranty: three years/60,000 miles (no mileage cap in the first two years)Spare wheel as standard: no (optional extra)The rivalsVolkswagen Polo GTI201bhp, 41.5mpg, £31,415 on the roadFor less than £1,500 more, the Polo GTI offers an extra 26bhp – but not necessarily more fun - Martin MeinersYours for a premium of less than £1,500 over the Fabia 130. However, it lacks the involving chassis dynamics of the best hot hatchbacks.Mini Cooper S201bhp, 44.1mpg, £29,065 on the roadThe Cooper S looks tempting on paper, although its firm ride and touchscreen-heavy cabin divide opinion - Bernhard FilserMore power for less money than the Fabia, but its stiff chassis ensures you feel every pothole – and its fiddly, touchscreen-centric interior isn't as easy to use.Try full access to The Telegraph free today. Unlock their award-winning website and essential news app, plus useful tools and expert guides for your money, health and holidays.