Friday, July 29, 2011

Fiat planning to launch a new model Palio in India.

Italian car maker Fiat said it is evaluating options to introduce a new model car in India through the completely built unit route and is also firming up plans for a small car that is likely to hit the market next year.  The company, which is present in India through a joint venture with Tata Motors, recently restructured its board in India by replacing tow if its directors. 

           “There are different routes and opportunity to launch a model in India and the completely built unit route is one of them.  Every route is open to us  and we are still evaluating,” Fiat India President and CEO Rajeev Kapoor told media.

            He, however, declined to share further details such as the model and a possible timeline to launch the vehicle.
            At present, the company is developing an India-specific small car at its R&D centre in Turin, Italy, with input from its operations here.
            “The small car is under development. We had announced earlier that our intention is to launch it in 2012. the exact timing and details will be ready with the product Kapoor said.
            During the Auto expo in January last year, the company had said that it would develop a small car specially for the Indian market, 80-85% of localization of pats.  The small car would be produced at its plant in Ranjanagaon, Maharastra.  Kapoor had said the car could be similar or smaller than its existing hatchback, Palio. 

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