Toyota has announced pricing for the new 2012 Scion iQ will start at $15,265 plus $730 for destination. The iQ, which Toyota is categorizing as a premium micro-subcompact and calling it “the world’s smallest four-seater” is just 10 feet long. That sits in between the shorter Smart ForTwo and longer Fiat 500.

The iQ will be powered by a 1.3-liter four-cylinder engine producing 94 hp. It is paired with a CVT transmission and has an EPA estimated fuel economy rating of 37 miles per gallon.

Standard safety features on the iQ include, 11 airbags (and the first rear-window airbag), ABS, electronic stability control, traction control, and brake-override.

The four-seats are made possible by a new seating arrangement Toyota is calling 3+1 where the front passenger seat sits forward of the driver’s seat, making room for a third passenger in the back. While there’s also a seat behind the driver, an adult couldn’t fit there. The rear seats fold down in a 50/50 split.

Standard entertainment features include Bluetooth, HD radio, plus an iPod/USB port. A full navigation system and DVD player is an optional package.

The iQ will come with Scion’s standard maintenance plan, which covers factory-scheduled maintenance for two years or 25,000 miles.

The iQ will roll into dealerships first on the West Coast starting in October.

See our New Car Preview for more iQ photos and details on other upcoming models.