The three companies would jointly invest in setting up a manufacturing unit at Manesar in Haryana, expected to be operational by end of calendar year 2008. The facility, when fully operational, would have a capacity to produce five lakh units per annum, MSIL said in a statement.
That means a manufacturer looking at a market like India needs to decide whether small, cheap cars or small, expensive cars or both will work better for them, says Pavan Lall.
The Fiat Group based in India plans to source auto components worth $1 billion (around Rs 4,900 crore) from domestic auto ancillaries in 2010. About 70 per cent of the outsourced parts will be solely for the Fiat Group's multiple operations in India.
Fiat Group Automobiles India is the Indian arm of Italian automobile major Fiat. Asked when the financial services division is likely to be rolled out, he said, "We are planning to do that as part of our announcement in April.
As part of the product expansion, the company will launch a sporty racy version called Punto Abarth in the third quarter of this year and launch Fiat-Chrysler's Jeep Wrangler and the Grand Cherokee in the fourth quarter.
The company will also bring global products such as Abarth.
The company unveiled premium sedan Avventura and high-performance Abarth 500
Maserati, whose logo is modelled on the trident in the statue of Neptune in Bologna's Piazza Maggiore, was acquired by the Fiat Group in 2005.
Fiat Group Automobiles India President and Managing Director Nagesh Basavanhalli said the company will continue to expand its presence in the Indian market.
Fiat has come up with a great offer for potential customers: a mid-size Sedan.
The company has finalised a plan to roll out nine new models by 2016, some of which would be shipped from India to right-hand-drive markets abroad.
The company opened its dealership in Ahmedabad today, which is 28th in the country and the second in Gujarat, after Surat.
Fiat was founded in 1899 by a group of investors including Giovanni Agnelli. Besides automobiles, Fiat has also manufactured railway engines and carriages, military vehicles, and aircraft during its century long history.
Fiat was founded in 1899 by a group of investors including Giovanni Agnelli. Besides automobiles, Fiat has also manufactured railway engines and carriages, military vehicles, and aircraft during its century long history.
It is eyeing doubling its market share.
From an average of about 1,800 units a month in 2010-11, Fiat sales dropped to about 900 units a month in the first four months of this financial year, according to data from the Society of Indian Automobile Manufacturers.
More than three years after Tata Motors and Iveco, a Fiat Group company, signed a comprehensive agreement to jointly explore opportunities in the area of commercial vehicles, the plan has largely remained in cold storage. In February 2007, Tata Motors and Iveco signed a memorandum of understanding (MoU) for potential developments in engineering, manufacturing, sourcing and distribution of products and components.
MSIL, India's biggest car maker, said it was in advanced talks with Fiat to ink a diesel engine sourcing contract that would allow it to rapidly increase diesel model supplies into the market.
Carnation Auto, a multi-brand car service initiative by ex-Maruti Suzuki chief Jagdish Khattar, on Thursday launched a servicing facility for premium cars in Gurgaon in association with Fiat Group firm Magneti Marelli.
Italian automobile giant Fiat is exploring options to manufacture light commercial vehicles with a load carrying capacity between 0.8 tonnes and 1.8 tonnes in India.
Fiat India Automobiles Ltd, a 50-50 JV between Fiat Group Automobiles and Tata Motors Ltd, has sold 10,000 units of its sedan, Linea, since its launch in January this year.
Iconic Italian brand Alfa Romeo is all set to burn rubber on Indian roads next year as Fiat, the parent company, prepares to launch the brand in the local market, according to top Fiat India executives.
"We are studying the feasibility of various Alfa Romeo models for the Indian market. If at all the car is to be launched, it will happen only in the last quarter of 2008," Kapoor said. He, however, did not name the models nor their respective price-tags.
Ferrari Italy is planning to bring its luxury moder Ferrari in India, in a bid to enhance its brand image.
Fiat India Automobiles, a joint venture between Tata Motors and Fiat Group, on Monday said it would invest Rs 2,341 crore (Rs 23.41 billion) to expand its facility in Ranjangaon plant in Pune.Fiat plans to ramp up its operations to produce up to two lakh cars, three lakh engines and three lakh automotive parts and accessories.
The idea behind this was simple: the new Fiat 500 was all about innocence and about re-birth, in many ways
Paolo Castagna who took over as the managing director of Fiat India in March this year, is trying to revive its fortunes.
Italy's Fiat group, which recently announced its restructuring plan, would continue to support its Indian car making subsidiary, according to a Fiat India statement issued in Mumbai on Thursday.
The state transport department recently announced to give permit to 3,000 new taxis.
A diamond merchant from Surat has put a smile on his employees faces after he gifted them cars, homes and jewellery as Diwali bonus in a stunning act of generosity, Oprah-style.
Zest buyers are forced to wait up to six weeks for the automated manual transmission version, available only on this car in the compact sedan segment.
Two in every five Celerios being sold by Maruti are now equipped with the AMT technology.
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