Fiat India has drawn plans to showcase an array of new cars at the Delhi Auto Show in January, even as many auto companies have decided against participating in this biennial event due to recession and the high costs involved.
Among the cars Fiat is planning to unveil at the show are the Alfa Romeo 166, the Palio Weekend and a Ferrari sports version, in addition to the Tendulkar series limited edition and the sports versions of the Palio. Although the Palio sports version will be launched in India in 2002, the company has thus far remained non-committal about the launch of other models in India.
A Fiat India spokesperson said, "We want to take this opportunity to show that we are very much alive and active in India."
Fiat is one of the few multinationals which has confirmed its participation in the auto show at Delhi. General Motors India, Honda Siel Cars India, Mitsubishi Motors and Suzuki (Maruti) are not participating in the auto show due to the current recession.
Meanwhile, Fiat India said in a press statement that the recent announcement of Fiat SPA restructuring to cut 6,000 jobs across 18 plants across the sectors will not affect its Indian operations.
The company spokesperson said the Indian plant will function normally, as its recently launched Palio "has been well accepted in the market and doing very well".
Fiat SPA had on December 11 replaced its global head Roberto Testore with Giancarlo Boschetti, the chief of Iveco, Fiat's commercial vehicles arm, as part of its restructuring measures aimed at cutting losses. Simultaneously, Fiat SPA will sell bonds to reduce its debts in a move which could significantly reduce its 6 per cent stake in General Motors Corporation.
