Fiat Automobiles achieves 28.5% sales growth in Q1 2010-11
Fiat India’s total sales (including exports) of FIAT branded vehicles in June 2010 stood at 2,310. The company’s cumulative sales (including exports) for the fiscal currently stands at 6531 vehicles as against 5084 vehicles sold last year. With these impressive numbers, Fiat India has witnessed a 28.5% growth in fiscal sales for the year 2010-11 as against 2009-10. Fiat currently offers the Fiat Linea, Fiat Grande Punto, Fiat Palio and Fiat 500 in the Indian market.
Fiat India Automobiles Limited (FIAL) is a 50-50 Industrial Joint Venture between Fiat Group Automobiles S. p. A., (Fiat) and Tata Motors Limited (Tata) originally incorporated on January 02, 1997. The company employs about 2775 blue white collar employees and is located at Ranjangaon in the Pune District of Maharashtra. The definitive agreement of the Joint Venture was signed in October 11, 2007. The board of directors for this company comprises of five nominees each from Fiat and Tata.
The state-of-the-art facility at Ranjangaon, which is owned by FIAL, a joint venture company, is capable of producing 200,000 cars and 300,000 engines, besides 300,000 parts accessories. Currently manufacturing the Palio Stile 1.1, 1.6 models, Linea and now the Grande Punto. The facility also manufactures Fiat’s successful 1.3 litre Multijet diesel engines and 1.2 1.4 litre Fire gasoline engine. Apart from Fiat cars, the facility will also produce Tata passenger and next generation cars with investment exceeding € 650 Million. The plant provides direct and indirect employment to more than 4,000 people.