Fiat to go ahead with plans of low-cost car

Fiat to go ahead with plans of low-cost car
Comment E-mail Print Share
First Published: Sat, Mar 17 2007. 12 20 AM IST
Updated: Sat, Mar 17 2007. 12 20 AM IST
Paris: Italy’s Fiat said it would go ahead with plans to build a low-cost car, joining a growing number of auto makers seeking to emulate Renault’s success with the Logan.
“This will be our answer to the Logan,” chief executive Sergio Marchionne said in a speech at a ceremony where he received an award.
Marchionne said Fiat would build the car in Brazil and might expand the manufacturing of it to China, India and Turkey where it has plants. He said the car would be the successor to the Palio, a cheap model with which Fiat has had success in Brazil, one of its most important markets.
Marchionne reiterated that the car would not be made with Tata Motors, Fiat’s Indian partner that is working on its own low-cost car.
Comment E-mail Print Share
First Published: Sat, Mar 17 2007. 12 20 AM IST
More Topics: Corporate News | Sector Spotlight |