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Fiat Eyes Larger Share of Indian Car Market

Company launched the Grande Punto in India hoping the hatchback would help the company capture a market share of 11-12%

Fiat on June 17 unveiled plans to increase its share of India's growing automobile market and hinted it may also offer Chrysler models to the country's middle class.

Launching the Grande Punto in India, Fiat-India CEO Rajiv Kapoor told reporters he hoped the hatchback would help the company "capture a market share of 11-12%."

The car has been priced at 400,000 rupees (US$8,900) in a move designed to challenge the dominance of mid-sized models of Maruti Suzuki.

Kapoor said Fiat projected a monthly sale of 2,500 units of the four-door Punto, which has sold 1.6 million units since its 2005 launch in Europe.

Fiat, which recently sealed a deal to sell bankrupt Chrysler's top assets, also raised the possibility of offering Chrysler models to the Indian market in future.

"Why not?" chief operating officer Silverio Bonfiglioli replied to reporters' questions.

Copyright Agence France-Presse, 2009

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