 | « Back to article | Print this article |
After the write-off of Rs 1,300 crore (Rs 13 billion) accumulated loss, Fiat India has embarked on a 'massive restructuring exercise' that would see the company launch new models, which includes hatchbacks Panda and Idea and sedan Albea.
The company also plans to strengthen its dealer and service network.
The 'Idea' is a compact multi-purpose vehicle while the 'Panda' is a premium hatchback. On the other hand, the 'Albea' is a luxury sedan.
"Fiat India is undergoing a massive restructuring exercise and 2004 is a year of consolidation for the company," director (commercial), Ravi Bharadwaj said here.
The company, which saw a massive surge in sales after the introduction of the Palio model before the sales dipped following questions over the car's fuel efficiency, is looking at introducing new models in the coming years, though strictly under the supervision of the parent company.
"We have just finished a 'clinic study' with the new models this month and a final decision on which car comes in first as well as its pricing and positioning will be taken at Turin (Italy) soon," Bharadwaj said, though refusing to give a time-frame for the launches.
The company conducted the study in Delhi, Mumbai and Bangalore and under supervision of officials from Turin. -- PTI
The Fiat Panda. Photo: AFP/Getty Images