Hyundai announced pricing this week for the upcoming 2013 Hyundai Veloster Turbo, which will start at $22,725, including destination, when it goes on sale this summer.

The Veloster Turbo’s starting price is significantly more than that of the base 2013 Veloster, which starts at $17,450. However, it undercuts several of its key competitors, including the $23,995 2012 Volkswagen GTI, the $23,800 Mini Cooper S and the $24,495 2013 Ford Focus ST.

Powering the Veloster Turbo is a turbocharged 1.6-liter four-cylinder engine that produces 201 horsepower. Power is routed to the front wheels via the choice of a six-speed manual or automatic transmission. While no critics have test driven the Veloster Turbo, most like the base Veloster, aside from its engine, which makes just 138 horsepower. “If there’s been one common complaint it’s been a lack of power,” Road and Track writes of the base Veloster.

The EPA has yet to rate the Veloster Turbo’s fuel economy, but Hyundai projects that the Veloster Turbo will net 26/38 mpg city/highway. This beats EPA estimates for both the GTI and Cooper S, which achieve up to 24/33 and 27/35 mpg city/highway, respectively.

Setting the Veloster Turbo apart from the base Veloster is sport-tuned steering, a sportier exhaust note and center-mounted exhaust pipes. Additionally, the Veloster Turbo gets Turbo-specific wheels, front fascia, headlights and ground effects, as well as standard leather seats. “One of the car’s cooler options,” according to Car and Driver, “is a matte-gray paint job, which will set buyers back a hefty $1000.”

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