Fiat India is all set to launch the New Fiat 500, a two-door lifestyle car come April 2008 and will carry a price tag of, hold your breath, Rs 13 lakh (Rs 1.3 million) plus. The new Fiat 500 along with Fiat Bravo (a large and stylish hatchback) is being launched as an image building exercise for Fiat in India after years of struggle in the highly competitive Indian market.
"These cars will pave the way for two of our mainstream launches, the Fiat Linea sedan and the Grande Punto hatchback which will be launched in September and December 2008 respectively," said a Fiat spokesperson.
Fiat is riding the New 500 wave across Europe since its July 2007 launch and has also collected the coveted European Car of the Year 2008 award. The New 500 which mimics the classic Fiat 500 of yore (a minimalistic automobile for the masses like the Tata Nano) is a showcase of Italian style and packaging ability.
The car competes with the BMW built Mini, yet another retro designed lifestyle car in Europe. The fight will continue in India as well as BMW is planning to bring the Mini to India too.
"We are now finalising the details and we think there is a small yet definite market for Mini in India. But do not expect it to be cheap," said Peter Kronschnabl, President of BMW India. Sources suggest a price tag of Rs 20 lakh (Rs 2 million) plus for the quintessential British brand which was resurrected by BMW.
"We expect to sell the Fiat 500 to people who want to make an automotive statement but don't want to show-off with another big limousine," the Fiat spokesperson added. "We expect it to be a hit with the celebrity circuit and trendsetters in the metros since they are aware of the value a genuine lifestyle statement the 500 makes."
Though only 3.55 metres long, the New Fiat 500 is safer than some of the bigger cars and has already received a five star rating in EuroNCAP tests. The car features seven airbags (an industry first for a car in its class) including a knee-bag. All cars feature electronic stability programme - yet another luxury car feature.
The Fiat 500 as well as the Mini will come through the CBU (completely built unit) route, hence the stupendous price tags. The 500 comes with several engine options, and we can expect the 100 bhp 1400cc petrol as well as the 75 bhp 1300cc MultiJet diesel that's already seen in the Suzuki Swift in India.
