We have full details on the 2011 Scion iQ set for a US release in under a year. Find out more, and see the pics inside.

The Scion iQ was formally introduced in New York yesterday.  Toyota's alternative brand will sell the car in the U.S beginning in the first quarter of 2011.

Scion is badging the car as a "premium micro-subcompact," that will come standard with a six-speaker sound system with a USB port.  The multifunction steering wheel is designed to keep the driver's hands on the wheel, and to keep the car safe the iQ has 10 airbags standard.  Other features that come standard include anti-lock brakes, brake assist, brake distribution, stability control, and traction control.

The 3+1 car features a MacPherson strut front, torsion beam rear suspension.  The urban cruiser uses a 1.3-liter four-cylinder engine that saves on gas, but may not be have enough power for American highways.  Then again, the 120.1-inch three-door is meant for urban environments.

It is not known exactly what will be different about this car from the Toyota iQ, but as it is being sold as a Scion it will likely have loads of available options for customization.  As such, Scion VP Jack Hollis said, "Scion prides itself on being an innovative brand with a lineup of iconic vehicles that set automotive trends."

"The iQ will define the premium micro-subcompact segment as the choice for new urbanites who want clever transportation without a sacrifice in style or new features."

We like the pearl white color, but we're still not sure how well the car will sell in the States.  Let us know what you think in the comments below.

Gallery: 2011 Scion iQ New Model Revealed in New York