The Fiat 127 is a supermini car produced by Italian car manufacturer Fiat from 1971 to 1983. It was introduced in 1971 as the replacement for the Fiat 850. Production of the 127 in Italy ended in 1983 following the introduction of its replacement, the Fiat Uno, although the nameplate continued to be used on cars imported from Brazil.

The B-segment is the second smallest of the European segments for passenger cars, between the A-segment and C-segment, and commonly described as "small cars". The B-segment is the largest segment in Europe by volume, accounting for 20 percent of total car sales in 2020 according to JATO Dynamics.