Chrysler is set to launch an Italian-inspired luxury version of its 300 Series flagship at the forthcoming North American International Auto Show (January 9-22).

The interior is decked out in black or “mochachino” Poltrona Frau “Foligno” leather from Italy and hand-sanded matte wood.

According to Chrysler, such features were “once limited to some of the most exotic Italian luxury cars” —  presumably a reference to Ferrari and Maserati, both owned by Chrysler’s parent Fiat.

Although the 300 Luxury Series is clearly about conspicuous consumption, the brand has tried to squeeze as much mileage from the V-6 engine as possible, claiming a best-in-class figure of 31mpg (7.6 l/100km) on the highway, an improvement of 17%.

For the first time on a luxury sedan, an eight-speed automatic transmission will be available, and buyers will also have the choice of an all-wheel drive system.

Inside, the 300 Series will be sold with a large, 8.4-inch touchscreen entertainment system, dual heated/cooled cup holders, ambient foot well lighting and LED illuminated interior door handles.

The model is set to start from $40,145 when sales begin early next year, potentially giving Lincoln and Cadillac a real run for their money.