Fiat to launch its cheapest car by 2010 (Lead)

September 4th, 2008 - 8:51 pm ICT by IANS  

New Delhi, Sep 4 (IANS) Auto major Fiat Thursday said it would bring out a new low-cost car that would be the cheapest among its stable of vehicles. “By 2010, Fiat is planning to launch a low-cost car, not under the Fiat brand, but under another brand,” Fiat CEO Sergia Marchionne told reporters at an automobile conclave here.

Marchionne did not name the other brand or disclose the price of the proposed car, which will be launched globally.

The car will not be manufactured in India. “This car is not to be compared with the Tata Nano concept,” Marchionne said.

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