Fiat is planning to enter the low-cost car segment in association with its Indian partner – Tata Motors. According to the Chied Executive of Fiat, the company is planning to create a new brand of low cost car.
"The next brand is going to be one that we develop ourselves," Sergio Marchionne told an automotive congress held in Turin. Fiat is tracing footsteps of Tata and Nissan Renault who have already entered the un-ventured market. Tata has already unveiled its Nana earlier this year and Nissan-Renault formally announced its plans to launch an ultra-cheap car in coming years. Fiat shall be taking its final decision to enter this market segment in next 12 months.
Marchionne firmly believes that this market segment has more space and is ready to embrace more models that offer value for money. The growing upper middle class and more dispensable income has put the auto market in India on a healthy and fast growing track. Nearly every automaker is eyeing the Indian market with its expansions plans of increasing manufacturing and dealer networks.
