Should the Skoda Felicia be brought back into the modern era?

As a trend to bring back classic car names and designs continues, some automotive enthusiasts have been curious whether the Skoda Felicia will make a return. The original Felicia was simple, reliable and affordable - things that many argue are in short supply in the car market today. A contemporary Felicia could be another Skoda to fill a gap in the range for a low frills, low cost option. But in an age when safety and emissions standards change, and when consumer expectations are different, would a true spiritual successor to the Felicia be possible or desirable in the market today? Could we capture the soul of the original with a new Felicia that would fulfill all the requirements that modern architecture places on a shopping center?