Mumbai, Dec 6 (UNI)
Fiat Group Automobiles India Private Limited (FGAIPL) today announced a series of initiatives aimed at strengthening its position in the Indian market by focusing on its core strengths.
India being the 3rd largest market in Asia, 5th largest all over the world, Fiat and Chrysler plan to introduce 9 refreshed models with the essence of Italy in its vehicle styling as its unique selling proposition in the next few years.
'Our vision for India will revolve around a three-pronged strategy,' said Mike Manley, President and CEO of Jeep Brand.
'Firstly, introduction of new vehicles that will soon include the legendary Jeep brand. Secondly, expansion of our independent dealer network and finally, strong marketing initiatives that will continue to improve our awareness and brand perception in the market.' Fiat Chrysler plans to expand its domestic production which will include model refreshing in 2013, New Punto (B High), Linea Classic (C Low), New Linea (C High) in 2014 along with special models in B High and C High in 2015. Apart from that, it plans to bring in Wrangler (D segment) and Grand Cherokee (E segment).
'We are optimistic about our prospect for growth in the Indian car market, which grew 12 percent in 2011 and is rapidly becoming one of the major markets in the world. With the launch of the Jeep brand, new Fiat products, an expanding dealer network and upcoming marketing initiatives, we will be in a strong position to capitalize on this growth.' said Enrico Atanasio, MD of FGAIPL', he said.
Top line reflects continued strong growth in NAFTA and APAC, LATAM flat y-o-y and EMEA down 12 percent. Its total investment suming upto 2,290 million euros and sales revenue for the financial year 2011-12 being 1058 million euros, the industry CAGR was 9.2 percent y-o-y. EBIT for the 9 month period for the financial year 2012 was 219 million euros. Total Group available liquidity was in excess of 20 billion euros.
It plans to employ around 7000 people making its presence felt across India.
Part of the dealer experience will include Fiat Caffe, which will offer its customers the opportunity to learn about Fiat's heritage and showcase its technological innovations. This will be another important touch point for consumers, since the goal is to replicate international service standards in India, he added.--UNI