Fiat Fails To Meet Yearly Target

By By: Vicky.in

Published: Tuesday, November 23, 2010, 16:13 [IST]

Fiat India once set the yearly target for 2010 as 46,000 units but so far it has sold out only 24,000 units only and has expressed its inability to meet the target. The company"s CEO quoted the tough competition as the major factor for Fiat India fall out, since in 2009 the company sold out 23,000 units. The target was fixed as double fold anticipating more avenues like focusing on new versions Punto and Linea.

A keen strategic ploy is on to increase the sale of Fiat India with these two prime brands on the fore. Since 2007, Fiat is in a JV with the other Indian major Tata Motors for manufacturing cars and designing engines and transmission sets from the Ranjangaon facility. Under the JV Fiat is rolling out its Fiat 500, Linea sedan and Grande Punto hatchback which are marketed through the sale set up from Tata Motors. So far Fiat India has sold out nearly 47,000 units through the strong contingent of 175Tata dealerships in the domestic market.

Meanwhile Fiat India is on plans to launch a small car suiting the Indian conditions, which will come off from the technological back up of its apex facility in Italy. There will be 80-85% localized components for this small car, said the CEO.

Article Published On: Tuesday, November 23, 2010, 15:56 [IST]

Read more on: #automobile #fiat #new car

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