Italy’s largest auto maker, Fiat SpA, unveiled four new models which it will start selling in 2009-10 in an effort to boost sales in Asia’s third largest automotive market—its third such attempt in the past few years.
The company will make the Grande Punto compact car and the Linea sedan with Tata Motors Ltd, India’s largest truck maker, in a joint venture factory the two are building at a cost of Rs4,000 crore in Ranjangaon near Pune.
Fiat expects to start selling these cars from the third quarter of the next financial year, said Alfredo Altavilla, vice-chairman of Fiat India Automobiles Ltd.
Before that, Fiat will also import two models, the Bravo and Cinquecento (also called Fiat 500), as fully built units and selling them from March, Altavilla added.
The company’s local unit has 0.3% market share in India’s 1.4 million a year passenger car market and is targeting sales of 70,000 units a year by 2010.
“I don’t wish to talk about the past,” said Altavilla. “Now the game will start.”