try changing the spark plugs and putting new leads in and i would say from previous experience that this would work, seems to be a comman problem in the puntos.
jj, May 2010
have you checked coolant level? white smoke can indicate blown head gasket - water is getting into cylinder which would cause the engine to run rough.
puntos are bad for this problem usually 50000 mile.
peter grant, February 2010
check oil levels , white smoke is when the engine is burning oil ( too much has been put in ) you can bleed it , blue smoke = not enough.