Fiat to Introduce Five New Car Models Over Next Two Years
Published By : 18 Sep 2013 | Published By : QYRESEARCH
Italian automobile manufacturer Fiat hopes to regain its profitable position in the Europe, Middle East and Africa (EMEA) market by producing five new brand models over a period of two years. Fiat\'s EMEA region group head Alfredo Altavilla stated this in an interview published in Corriere della Serra.
This fortune-changing lineup will likely feature four car models of the Fiat 500 family and one new model of the successful Panda type city car.
The plan, according to officials, is to strategically redesign and further develop the Fiat brand so as to position it firmly in the premium cars market segment. The Italian automobile giant hopes to achieve this by further extending the proven market success of the 500 family and the Panda—cars of which millions of units have been sold globally.
Fiat is aggressively looking to come back to its profitable position in the EMEA region by 2015 and the new car launches are a step in this direction. According to sources, the new variant of the Panda will likely be designed to compete with large SUVs and be positioned as an off-road vehicle. However, there was no word from company officials about where the new brand models will be manufactured.
Alfredo Altavilla also indicated that a strategic collaboration with a Russian firm was on the cards and on the verge of being finalized. However, he did not divulge any further details.
Currently, the European car market is recovering from a slowdown and car manufacturers have said that the industry would need to cut more jobs because there was a need to close more manufacturing plants. With bank lending being weak and high unemployment rates prevailing, recovery in the European car industry is expected to be slow.