Italy's Fiat to re-enter India's jeep market with Cherokee, Wrangler
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The company plans to set up 120 dealerships by next year, he said adding the existing dealerships arrangements with the Tatas will be over by next March.
As part of the plan to expand its portfolio here, apart from refreshing the Linea and Punto models and bringing in new generation of Linea, the company is also developing a compact sports utility vehicle by 2014, Aanasio said.
From the Fiat portfolio, the company will roll out four vehicles including a sub-four meter compact SUV, which will make its entry into the volume segment, he added.
With the foray into the jeep brand here, new Fiat products and expanding dealer network, the company will be in a strong position to capitalise on this growth, Aanasio said.
The off-road pick-ups and luxury SUVs will be the first vehicles from the Chrysler stable launched here, where Fiat has failed to crack the highly-competitive low-cost segment.
"Our goal is to reach 5 per cent market share in the foreseeable future from a paltry 0.7 per cent in 2011," Manley said, adding the Asia-Pacific region is the biggest growth market for us.
Fiat sold just 4,717 cars in the country during the six months to September, giving it a market share of 0.4 per cent. The company sells the Punto hatchback and Linea sedan in the country now.
Currently the Jeep models are sold in 120 countries, but not here, Asia's third-biggest car market.
In the first half of the current fiscal, utility vehicle sales rose 55.8 per cent year-on-year, while car sales shrank 0.3 per cent and the overall car sales are likely to grow just 1-3 per cent, according to the industry body Siam.