Fiat expects surge in sales in the festive season

August 28th, 2009 - 9:28 pm ICT by IANS  

New Delhi, Aug 28 (IANS) Fiat India Automobiles, a 50:50 joint venture between India’s Tata Motors and Italy’s Fiat, Friday said it expects to sell about 3,500-4,000 vehicles in the upcoming festive season.
The company is targeting single-digit growth this year and expects to break even in 2011.

“We expect a cash breakeven in 2011 by which time we will be selling 80,000 Fiat-branded cars,” Rajeev Kapoor, president and chief executive officer of Fiat India, told reporters on the sidelines of an industry conference.

Fiat India’s models are Linea, Grand Punto, Palio and Fiat 500.

Kapoor said the company would also start exporting Linea to South Africa from next month.

Fiat had earlier announced an investment of Rs.4,000 crore for India operations.

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