Fiat has yet to announce many details about the new ute, nor has it shown us the new car's interior or rear. We do know, though, that the dual cab model seen here has seating for five, can carry a tonne of cargo and measures 4915mm long.
The company claims that the new Toro is both "robust and sophisticated", combining load carrying capability with "the comfort of a luxury car".
It's not entirely clear what the starting point for the Toro is, but reports and spy photos from Fiat's Brazilian facilities indicate that it's based on the Jeep Renegade and isn't the Mitsubishi Triton-based vehicle that was announced late last year.
Stylistically the Toro borrows a few design cues from the Jeep Cherokee, most notably the thin set of LED driving lights that sit above the disguised main and high beam units below.
The reveal of the new Toro's face comes almost a year on from the debut of the Fiat FCC4 coupe/ute/SUV mashup at the 2014 Sao Paulo motor show. While very much toned down, the new Toro shares the concept car's basic design themes and ethos.
The Toro will be sold in Latin America, a market in which Fiat is a big player. If it is indeed a Renegade-based ute, it will compete against the recently unveiled Renault Duster Oroch.
Updated (9.50am 16/10/2015): Included reports that the Toro is Renegade-based, not a joint venture production with Mitsubishi.