Fiat India has deferred the launch of its upcoming model, Fiat Bravo, in India. Fiat intends to rebuild its brand in the country and the launch of Bravo was a part of the marketing strategy. However, looking at the present car scenario, it had deferred its decision to launch any high priced car. It states that there is clearly a lack of interest for car priced above Rs. 20 lakh. We wanted to launch the Bravo but put it off because of poor market conditions. Anything above the C segment (mid-size cars in the Rs 7-10 lakh range) is not selling,” Mr Rajeev Kapoor, CEO, Fiat India Automobiles said.
Fiat Bravo will be imported as a completely built unit in India and would have attracted hundred percent duty on the same. The market is not viable for such highly priced cars. Fiat already marks its presence in the Indian auto market with its models like Fiat 500 Cinqcento and Fiat Linea. Fiat 500 which is a three door hatchback model is already priced at Rs. 13 lakh and above due to the import duty it attracts in India. It intends to launch Fiat Grand Punto on 17th of this month. Moreover, Fiat does not intend to launch models in the same segment that would compete with each other or with the Tata Motors portfolio.