Italian car maker Fiat Group Automobiles India, which is on a comeback trail after failed joint dealership with Tata Motors on Tuesday launched compact car Punto Evo with introductory price in the range of Rs4.55 lakh to Rs7.19 lakh (ex-showroom Delhi).
The refreshed model will take on the likes of Maruti Suzuki’s Swift, Hyundai i20 and Honda Brio, which are priced between Rs3.99 lakh and Rs7.76 lakh (ex-showroom Delhi).The petrol versions of the Punto Evo are priced between Rs4.55 lakh and Rs6.65 lakh, while the diesel variants would retail between Rs5.27 lakh and Rs7.19 lakh.
“We will continue with our product onslaught in Indian market and new models to rev-up sales,” said Fiat Group Automobiles India President and Managing Director Nagesh Basavanhalli.“We had set a target of a product line up of five vehicles by December this year and nine by 2016 in our Indian line up,” added Basavanhalli.Besides the Avventura, luxury hatchback Abarth 500 will be launched later this year.
The Italian-American auto major Fiat Chrysler had announced plans to launch 12 models in India in the next five years and will start producing models from the Jeep brand in the country by 2015.After the debut of the Abarth brand in India this year, Jeep brands will follow next year, with nine models to be locally assembled and the remaining three to be imported.
In 2015, the group will introduce the much-awaited Wrangler and Grand Cherokee models from the Jeep brand and Abarth Punto. The Grand Cherokee and Abarth Punto will be locally produced, while Wrangler will be imported.By 2018, the group expects to have a vehicle production capacity of 2,45,000 units annually, compared with 1,35,000 at present.
While the total engine capacity will remain the same at 3,50,000 units, for transmission units, it will go up to 3,30,000 by 2018 from the current level of 3,00,000 units.