Up against stiff competition, Fiat may not meet sales target | autos | Hindustan Times
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Up against stiff competition, Fiat may not meet sales target

autos Updated: Nov 21, 2010 12:51 IST

PTI
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Having sold only 24,000 units till October, Italian auto giant, Fiat, seems unlikely to meet its sales target of 46,000 units for this calendar year (2010), attributing it to stiff competition in the market place.

The company had earlier targeted doubling its sales in 2010 at 46,000 units, as against the 23,000 units it sold in 2009.

"Yes, we are facing stiff competition -- there is a possibility of us falling short of our sales target of 46,000 units set for this year," Fiat India's President and CEO, Rajeev Kapoor, said.

The company is now looking at new strategies to boost the sales of its two premium cars -- Punto and Linea.

"We have adopted some new strategies to boost our sales and we are hopeful of success in the coming days," he said.

Tata Motors and Fiat inked an equal joint venture in 2007 to build cars and also produce transmission sets and engines at the Ranjangaon facility near Pune.

Since 2009, Fiat India has launched the Fiat 500, Linea sedan and the Grande Punto hatchback. These cars are sold through Tata Motors dealerships and so far Fiat India has sold close to 47,000 units. Presently, the company has a 175-strong dealership network pan-India.