Fiat India to rework on brand strategy

Fiat India is to streamline its operations and rework on the brand strategy at the premium end to reaffirm its presence in India.

"We are here to stay and we need to streamline our operations and brand strategy," the newly appointed managing director Paolo Castagna said at the launch of the 1.6 litre petrol Fiat adventure sport vehicle today.

Castagna said as part of the overall strategy, the company aims to achieve greater cost reduction, achieve customer satisfaction, improve after sales service and dealer network as per Fiat's international standards.

On the introduction of Panda and idea in the Indian market, Castagna said clinical tests have provided positive results but bringing them into the Indian market would take some more time.

"The task at hand is to ensure a product with the required techniclal specifcations, including the amount of localisation, with the correct costing and perfect pricing structure", he added.

Asked if the parent company, Fiat Italy, would provide additional funds, Castagna said over Rs 2,000 crore has already been pumped into the Indian unit, in which it has over 99% stake with 0.25% stake, as against nearly 3% a year ago, left with Premier Automobiles.

Fiat Italy has already written off a loss of Rs 1,300 crore more than a year ago and Fiat India presently has a bank debt of Rs 29 crore only, he added.