The fastest production Octavia in history, the new third-generation Skoda Octavia vRS, will cost between £22,990 and £25,450.

Offered with high-performance petrol and diesel engines in saloon and estate bodystyles, it is capable of 0-62mph in 6.8sec and a top speed of 154mph in its most potent petrol-powered state.

Set for a global reveal at the Goodwood Festival of Speed this week, the Skoda comes equipped with either a 217bhp 2.0-litre TSI petrol engine from the Volkswagen Golf GTI or a 181bhp 2.0 TDI diesel unit from the Golf GTD. The vRS diesel manages 0-62mph in 8.1sec and a 144mph top speed.

A six-speed manual gearbox is standard for both versions, whereas a six-speed DSG dual-clutch is optional. Fuel economy is said to be improved by 19 per cent over the previous-generation Octavia vRS.

Sports suspension is standard on the front-drive Octavia vRS, with an electronic XDS differential equipped as standard to help improve traction and reduce understeer. A ‘progressive’ steering set-up with a quicker rack also features.

The Octavia vRS is easily distinguished from more humble Octavias thanks to a series of sporty design changes. There is a new front grille, honeycomb air intakes, new front and rear bumpers, a black rear diffuser, chrome trapezoidal exhaust tips, a rear spoiler, LED rear lights and bi-xenon front headlights with integrated LEDs.

Alloy wheels of 17in, 18in and 19in in diameter are all offered, with 225/45 tyres offered on the 17s and 225/45s offered on the 18s and 19s. Sat behind the alloys are red brake calipers.

Inside, there are sports seats, a leather-wrapped sports steering wheel, stainless steel pedals and sill plates, and a new instrument panel. Black trim and vRS badging also feature.

The new Skoda Octavia vRS is due on sale in the UK in August.

Skoda Octavia vRS prices

Octavia vRS hatchback 2.0 TSI - £22,990

Octavia vRS hatchback 2.0 TSI 220PS DSG - £24,380

Octavia vRS hatchback 2.0 TDI CR 184PS DPF - £23,260

Octavia vRS hatchback 2.0 TDI CR 184PS DSG DPF - £24,650

Octavia vRS estate 2.0 TSI 220PS - £23,790

Octavia vRS estate 2.0 TSI 220PS DSG - £25,180

Octavia vRS estate 2.0 TDI CR 184PS DPF - £24,060

Octavia vRS estate 2.0 TDI CR 184PS DSG DPF - £25,450

Skoda Octavia vRS standard specification

18in Gemini anthracite alloy wheels

3 spoke MFSW for radio and tel with DSG paddles (auto only)

Acoustic rear parking sensors

Automatic post collision braking system

Bi-Xenon headlights +AFS+LED "DAY LIGHT" with dynamic angle control

Black door mirrors and handles

Bluetooth

DAB

Daytime LED running lights

Driver alert system (fatigue detection)

Driver knee airbag

Driving mode selection (eco/comfort/sport/custom)

Dual zone air conditioning with humidity sensor and control

Energy recovery

ESC incl ABS, EBV, MSR, ASR, EDS, HBA, DSR, XDS

Hill hold

Lane assistant

LED rear lights

Light assistant

Rear backrest release (estate)

Rear electric windows (with child safety switch)

Roof rails (estate only)

Sports suspension

Stop/start

Touchscreen "Bolero" (with single CD player & proximity sensor)

Tyre pressure monitoring+