Yes, that green was Talbot's official racing colour back in the day.

Obviously it's the Hillman Imp and its Singer and Sunbeam brethren.

Henry Segrave. He was a walking, talking adventure book character. WWI fighter pilot, Grand Prix driver, land speed record holder, water speed record holder....

Hillman Imp - widely considered by the motoring press of the day to be superior to its main competitior, the Mini. Early quality issues though scared off buyers while the Mini, after a slow start, became trendy.

When PSA relaunched Talbot they tried very hard to convince the public that these cars were worthy successors to the Talbots of old. I suppose they were as closely related to classic Talbots as modern Audis (which are really DKWs) are related to pre-war ones. 

to building this:

Talbot. They went from building this: 

In any case Peugeot own the Simca rights and I doubt they would be interested in selling them back to Fiat/Chrysler.

As far as I know, Fiat does currently own the Innocenti rights, having bought the brand from de Tomaso around the same time as they bought Maserati. They used it for a little while as a sub-Fiat cheap brand before dropping it completely.

Volvo PV544

Strangways' Hillman Minx in Doctor No

The Cricket did make quite a good rally car though.

No love for the Borgward Isabella?

How about the Singer Chamois? A Hillman Imp with all the bells and whistles.

Sunbeam Rapier: luxury coupe and a great rally car too.

or a Sunbeam Stiletto

Another blog posed this question a few months back and my answers were either a Talbot Sunbeam Lotus

Sunbeam Alpine: Cary and Grace show how it's done.

Matra-Simca Bagheera: 3 seats for your ménage à trois

Different people have different reasons. For me it's because they're so enjoyable to drive - like a road legal go kart.