Fiat rolls out compact Punto Evo starting at Rs 4.5 lakh
The model will take on the likes of Maruti Suzuki's Swift, Hyundai i20 and Honda Brio, which are priced between Rs 3.99 lakh and Rs 7.76 lakh.
New Delhi: Fiat Group Automobiles India todaylaunched compact car Punto Evo with introductory price rangingfrom Rs 4.55 lakh to Rs 7.19 lakh (ex-showroom Delhi).
The model will take on the likes of Maruti Suzuki's Swift,Hyundai i20 and Honda Brio, which are priced between Rs 3.99lakh and Rs 7.76 lakh (ex-showroom Delhi).
The petrol versions of the Punto Evo are priced between Rs4.55 lakh and Rs 6.65 lakh, while the diesel variants wouldretail between Rs 5.27 lakh and Rs 7.19 lakh.
Fiat Group Automobiles India President and ManagingDirector Nagesh Basavanhalli said the company will continue toexpand its presence in the Indian market.
"We are now strengthening our product portfolio in Indiawith cars that are designed and engineered keeping Indianconditions and need in mind," he said.
The company is on a comeback trail after failed jointdealership venture with Tata Motors.
Basavanhalli said the company currently has 116 out letsin 93 cities across 23 states in India.
The company will launch the compact SUV Avventura whichwas showcased at the Auto Expo in February, within 60 days,he said.
Fiat, which is present in the country through a wholly-owned subsidiary, is adding new models in its portfolio this
year to rev-up its sales.
It had set a target of a product line up of five vehiclesby December this year and nine by 2016 in its Indian line up.
Besides the Avventura, luxury hatchback Abarth 500 will belaunched later this year. The Italian-American auto major FiatChrysler had announced plans to launch 12 models in India inthe next five years and will start producing models from theJeep brand in the country by 2015.
After the debut of the Abarth brand in India this year,Jeep brands will follow next year, with nine models to be
locally assembled and the remaining three to be imported.
In 2015, the group will introduce the much-awaitedWrangler and Grand Cherokee models from the Jeep brand andAbarth Punto. The Grand Cherokee and Abarth Punto will belocally produced, while Wrangler will be imported.
Towards the end of 2016, a fresh Avventura based on a newglobal small platform will be launched along with a mini-SUVfrom the Jeep stable, both of which will be locally produced.
In 2017, the group plans to launch new models of thePunto and Grand Sienna from the Fiat portfolio and Wrangler
and Grand Cherokee from the Jeep brand. Of these, only the newWrangler will be imported.
The launches will be followed by a fresh Abarth Puntobased on a new global small platform in 2018, which will also
be locally assembled.
The group's plant at Ranjangoan in Maharashtra will rollout six models across three platforms by 2018, up from thecurrent three models from a single platform. The facility willproduce six types of engines from the current three.
By 2018, the group expects to have a vehicle productioncapacity of 2,45,000 units annually, compared with 1,35,000 atpresent.
While the total engine capacity will remain the same at3,50,000 units, for transmission units, it will go up to
3,30,000 by 2018 from the current level of 3,00,000 units.
Bouchara assumes full responsibility for the Jeep and Citroën national sales companies with immediate effect.
The Fiat Progetto 363 SUV – the market name for which is yet to be finalised – will be sold in Brazil.