The latest iteration of the iconic small car has been totally redesigned from the ground up but is still unmistakably a Mini.

At a special launch event in Oxford, attended by British Prime Minister David Cameron, BMW took the wraps off the next-generation Mini and Mini Cooper, which attempts to keep the outgoing car’s good looks while bringing its handling, technology, creature comforts and fuel economy to new levels.

Rather than pick either the LA or Tokyo Motor Show for the new car’s unveiling, BMW chose to pay homage to the Mini’s creator, the late Sir Alec Issigonis, and selected his birthday, November 18, and Oxford, the city where the car has always been built, for its global debut.

Sir Alec would have been 107 and while his most famous creation has been in production for some 54 years itself, it still looks as fresh and exciting today as it did when it was first unveiled back in 1959. Much of this is thanks to the rejuvenation process that BMW’s ownership has enabled. Since taking over and reimagining the brand back in 1994, the car has found a new 21st century global audience without losing any of its original charm or characteristics.

However, the new model is the first to be built on a completely new platform, with new powertrains and technology. Until now, each iteration of the Mini had simply been a tweak of the version before, whether it was turbochargers for superchargers, subtle headlight changes or the addition of larger four-wheel drive, diesel or even electric variants.

And while the new car to some extent represents a clean slate, from the outside at least, the changes are subtle. A new front grille, highlighted front and rear light clusters and use of brightwork surrounds — a technique favored by carmakers such as Bentley and Jaguar to suggest class. However, there is one big(ish) change. The little car has been stretched lengthways by a full 98mm and widthways by a further 44mm for extra comfort for all four passengers — let’s face it, as fun as the Mini is to drive, it is not the ideal transport for a family holiday. To this extent, the trunk is finally getting bigger too and now has a 211-liter capacity.

However, this bigger, broader car shouldn’t lose any of its go-kart feel thanks to a new suspension and power steering setup and a host of electrical stability and traction control features more typical on BMW’s much larger cars.

What’s more, the car can be specified with a new Driving Modes option. A rotary switch located at the base of the gearshift allows the driver to flick between Sport, Mid and Green modes which change the car’s performance characteristics.

As well as the Driving Mode switch, the interior sees the welcome addition of a proper informatics and telematics system — including a number of active safety features — which supports smartphone connectivity. It boasts a heads up display; a camera-based intelligent cruise control system (for maintaining the gap between vehicles on the highway) road sign detection; parking assist and a rear-view camera. It also has an emergency call and Mini teleserivces feature.

When the Mini goes on sale in early 2014 it will be offered in three turbocharged model variants: the 136 bhp 3-cylinder engined Cooper; the 192 bhp 4-cylinder Cooper S; and the 116 bhp 3-cylinder diesel Cooper D. Mini will confirm region-by-region pricing at a later date.