Entry-level in the Punto range were the 1.1 and 1.2L petrol engines and the 1.7 diesel engine. The 1.2 engine's actual capacity is 1.242 liters, available in 3 versions. The first, was fitted in the Punto ELX 75 and produced 75 hp at 6000 rpm while the second, fitted to Punto ELX 85 produced 86 hp at 6000 rpm. The third was a 60hp engine which eventually replaced the 1.1 54hp engine.
A 1.6 Sporting was also available producing 88 bhp (replaced in 1997 by the more economic 16 valve 1.2 unit), but the best performing version was the 136PS (134hp/100kW) 1.4 GT using an evolution of the turbocharged 128 SOHC engine originally found in the Fiat Uno Turbo Mk II- capable of running over 200km/h (124mph) and reaching 100km/h (62mph) in just 7.9 seconds. This car was also fitted with a 5-speed manual gearbox, with different gear ratios than the ELX series. During the years the GT was made in three different "series" with power 136PS (134hp/100kW) (1993-1995),133PS (131hp/98kW) (1995-1997) and 130PS (128hp/96kW) (1997-1999).
A cabriolet (convertible) version was also available; built by Bertone (rather than at the main Fiat factory) it featured an electric powered fully-retracting roof and was one of the cheapest open-top cars in the world at the time.
Particular versions of the Mark I Punto were the Punto 6Speed, a 1.1 FIRE Punto 55 with a 6-speed gearbox, the Punto Selecta with an automatic gearbox, and the Punto ED (Economical Drive), a 1.1 Punto whose 5-speed geabox was designed for high fuel efficiency.
The second generation Nuova (New) Punto, codenamed Project 188, was launched in 1999. The styling was all-new while retaining the original Punto's distinctive shape and design, while the chassis and interior were completely overhauled. The new Punto also became the first Fiat in decades to carry the original round Fiat badge, to celebrate Fiat's centenary.