Fiat makes a point with Punto to take on rivals | business | Hindustan Times
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Fiat makes a point with Punto to take on rivals

In the Italian language, the word “Punto” means “Point.” Car-maker Fiat did that on Wednesday with a price punch and variety in a make-or-break model. That should shake up the competition.

business Updated: Jun 17, 2009 22:04 IST
HT Correspondent

In the Italian language, the word “Punto” means “Point.” Car-maker Fiat did that on Wednesday with a price punch and variety in a make-or-break model. That should shake up the competition.

Fiat India launched probably its most important product yet - the Grande Punto - pricing it aggressively between Rs 3.99 lakh and Rs 6.11 lakh ex-showroom Delhi.

“Whichever market the Punto has been present in, Fiat has witnessed a revival,” said Rajeev Kapoor, CEO, Fiat India, who expects the model to sell 2,000 to 2,500 units per month for now.

The Punto offers a choice of three powertrains—1.2 litre and 1.4 litre petrol engines and a 1.3 litre diesel engine. The range effectively pits it against the Skoda Fabia, Hyundai i20 and i10 Kappa, Honda Jazz and Maruti’s Swift and Ritz.

“This should be the beginning of a different journey for us in India,” said Silverio Bonfiglioli, chief operating officer, Fiat Group Automobiles.

“We hope to achieve sales of 70,000 units for Fiat in 2010 but expect the numbers to treble for the next 5 years.”

India is the third country where the Punto is being produced, since its European launch in 2005.