Fiat India To Launch Small Car
Fiat has not been doing particularly well in India. The Italian automaker has failed to keep momentum with the Linea and Grande Punto. In order to get a larger chunk of market share, the company is planning to launch a small car in 2012, which would be competitively priced. The small car will be positioned below the Grande Punto and will be priced under Rs. 4 lakhs. We contacted a Fiat spokesperson who confirmed the development. However Fiat will have tough competition in this segment which has been dominated by Maruti Suzuki and Hyundai.
“If you look at competition, their numbers have gone up only because of the small cars. A car like that is a volume car. One may not get any money out of it, but it gives your brand the much required exposure and visibility in the market. We hope the utilisation of our plant in Ranjangaon goes up this year because we are working on a lot of different projects. The more we utilize, the better would be the profitability. We are going to do about 60 per cent this year”,” Rajeev Kapoor, CEO Fiat India, said.
Source – Business Standard