It's hard to believe that it's been eight years since Audi last launched a new convertible product line. It would have been understandable had their drop tops been slow sellers but the A4 Cabriolet and the TT Roadster have both been standout performers for the Ingolstadt company. To that list, we can finally add a new soft top, the A3 Cabriolet.

There's a lot to like about Audi's product philosophy. The company is rarely the first to dive into a particular market sector, instead preferring to sit back, take notes and then launch a thoroughly well developed vehicle that, more often than not, aces the opposition. Audi tends to eschew engineering gimmicks, preferring instead solid, no-nonsense technology that works. In an age where car manufacturers are falling over each other to bring misshapen folding hard top cars to market, Audi hasn't bothered, its two evergreen drop tops, the A4 Cabriolet and the TT Roadster, instead featuring conventional fabric roofs. To that list we can now add the A3 Cabriolet, the company's first foray into the compact cabriolet market.

Based on the A3 three door chassis, the Cabriolet is an interesting diversion as it doesn't match up squarely against products from Mercedes, BMW, Lexus or Jaguar. This deviation from Audi's usual script represents a genuine gamble.

Audi makes much of the A3 Cabriolet's lower centre of gravity compared to folding hard top cars. This is key because fitting a lot of electric motors, rigid panels and strengthening high in the body, as many folding metal hard-top models do, has all sorts of repercussions for weight distribution. Keep the roof light and compact, as Audi has done, and the suspension isn't given quite such a poser when confronted with a corner.

A first look over the A3 Cabriolet suggests it's one of the more focused drop tops. The brakes feature big ventilated discs up front, a specially tuned stability control system has been developed for the car and slick six speed manual gearboxes are standard across the board. As an option, buyers of the 2.0-litre-engined cars can also go for the revolutionary twin-clutch S tronic gearbox with shift paddles mounted behind the steering wheel and a mode that replicates a conventional automatic 'box.

"A first look over the A3 Cabriolet suggests it's one of the more focused drop tops?."

Beauty is undoubtedly in the eye of the beholder but of the opinions I canvassed regarding the A3 Cabriolet, few were complimentary, many regarding it as looking squat, dumpy and rather undistinguished. Straightforward conversions of compact hatchbacks rarely make elegant drop tops and the A3 Cabriolet tries hard but can't escape its fundamental short and squat footprint, even if it is 24mm longer than the A3 three-door hatch. Still, Audi has done a good job packaging the car, the hood's compact dimensions meaning that there's enough space for four adults inside.

The hood itself can be specified in semi or fully automatic versions, the latter of which includes additional acoustic insulation and raises in just nine seconds at speeds of up to 30km/h. A heated glass rear window is standard and the fully automatic hood can be operated via the key fob. Other highlights are the optional R8-style daytime running LEDs in the headlamp pod. The windscreen is set at the same angle as the hatchback model, which is a welcome relief after the steeply canted screen that designers fit to hard top convertibles in order to try to shorten the roof length. These not only reflect the dash top badly but often cause dangerous blind spots, not something the A3 Cabriolet suffers from.

It would be understandable had Audi decided to adopt a toe in the water approach with this model but instead they have decided to go large. As such, there are four different engines to choose from and two trim levels - with a third coming on stream a little later. The engines first. All are direct injection powerplants with turbochargers to plump up power and torque. There are two diesels, the first a 104bhp 1.9-litre TDI unit and the second a 138bhp 2.0-litre TDI engine. The petrol engines open with the 1.8-litre TFSI unit, good for 158bhp, with the flagship of the line up being the 197bhp 2.0-litre TFSI engine that now seems to be the first motor to be inked in when the International Engine of the Year awards are decided. Trim levels run from standard to Sport, with an S line option available to order.

The standard model comes with the semi-automatic roof with electric windows all round. Go for the Sport and you'll get the fully automatic acoustic roof, 17-inch aluminium wheels, front fog lights and sports seats and suspension. Place an order for the S line variant and there's a sports pack and body styling included.

As with any in-demand Audi model, expect residuals to be rock solid, for the first three years at the very least. The engines used are all very modern powerplants with a reputation for offering a decent compromise between performance, fuel economy and carbon dioxide emissions. Even the range-topping 2.0-litre TFSI unit sups 95RON at a rate of just 7.6 litres per 100km, which in old money is 37.4mpg. That's a very good return for a car which can get to 60mph in 7 seconds flat and run onto a top speed of 144mph. Of course, if you really want to slash fuel bills, go for one of the two diesel models. Even the more powerful of the two oil burners will return 53.6mpg, yet can crack the sprint to 60mph in just 9.6 seconds. Emissions already undercut the future Euro5 standards.

The main reason people buy convertible cars is because they want to look great and any car buff can reel off a string of very successful convertible models that looked fantastic but were actually utter dogs to drive and own. The A3 Cabriolet turns that established logic on its head but it's no great looker. Nevertheless, if it can maintain even 70 per cent of the A3 hatch's driving manners, it'll be the best four seater compact cabriolet by a country mile.

All of which brings us back to the original question of whether cabriolet buyers will prefer substance over styling. I have my doubts. Audi has, rather uncharacteristically, taken a risk and jumped into this premium compact cabriolet segment first, abandoning their usual 'wait and see' approach. This could get interesting?