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Making good on its promise to debut the new Skoda Octavia RS at the 2013 Goodwood Festival of Speed, the Czech automaker has released full details of the fastest Octavia ever. We only have these five photos so far, with more to come after the event proper.

The third-generation Skoda Octavia RS (or vRS in the UK, as Ford claims to ‘own’ the RS name over there) gets two turbocharged 2.0 litre engine options this time – a petrol as per usual and a new diesel motor. The former gets 220 hp and 350 Nm, while the diesel trades some horses for more torque (184 hp and 380Nm).

No surprise it’s the petrol 2.0 TSI that’s the quicker of the two. It breaks the 100 km/h mark in 6.8 seconds and on to a top speed of 248 km/h, 0.4 seconds and 6 km/h faster than the car it replaces. The 2.0 TDI model registers 8.1 seconds and 232 km/h. Both models get a choice of six-speed manual or DSG transmissions.

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There’s no hiding the Octavia RS’ relationship with VW’s sporty Golf MK7 models. The 2.0 litre petrol is the same as the one found on a standard GTI, and the turbodiesel engine is a straight lift from a Golf GTD. The donor cars’ XDS electronic differential lock and progressive steering are also featured here.

Skoda quotes economy improvements of up to 19% through the use of the VW Group’s new MQB platform, auto start/stop and brake energy regeneration system. The RS has a 12 mm (or 13 mm for the Combi estate model) lower ride height compared to a standard Octavia, with sport suspension fitted as standard.

On the outside the Octavia RS gets a black front grille carrying a prominent RS badge, plus honeycomb air intakes, aggressively chiselled bumpers and darkened bi-xenon headlamps with integrated LED DRLs. Round the back it gets unique spoilers, LED lamps and a deep diffuser with two large trapezoidal-shaped chrome exhaust tips.

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Five wheel choices ranging from 17- to 19-inch items are available, each styled with sharp edges and distinctive two-tone paint schemes. As with all Skoda RS models, the brake calipers are finished in red-lacquer. This Skoda is sportier than ever before and it shows.

Inside you’ll find black sports seats and a sporty three-spoke leather steering wheel with plenty of RS badges everywhere. Unique RS instrument panel with colour display is also standard, together with stainless steel pedals and sill plates. Panoramic sunroof, 8-inch touchscreen with proximity sensor (sounds familiar?) and premium Canton sound system are all optional extras.

Moving to a new-generation base (wheelbase is now 102 mm longer) also brings significant space improvements. Skoda claims it has the largest interior room among compact sports cars, and the boot size is also class-leading at 590 litres (610 litres in the Combi).

So pick your poison: petrol or diesel? In this case there is no wrong answer.