Fiat India Automobile Ltd (Fial) does not intend to hike prices of its cars currently, in view of the Euro IV emission norms which will come into force from April 2010.
From April 1, 2010, 13 cities will move over to Euro IV. Previously, industry sources said that for the Euro IV emission norms to be effective from April 2010, the prices would go up as car makers were making drastic investments to improve vehicle engines in order to make them Euro IV compliant.
Rajeev Kapoor, Fial president and CEO said, “At the moment, we don’t have any plans to increase the prices of our cars due to Euro-IV emission norms. We will follow a wait and watch policy and observe other car manufacturers, then only any decision will be taken.”
When queried about the sales, he said, “This year has been pretty good for us. We would be closing this financial year, with 24,000 units. Fiat Punto was launched in mid of the current fiscal year, and it is doing extremely well. So far the next financial year is concerned, we are targeting to sell 48,000 units that include, Fiat Punto and Fiat Linea.”
He said further, “The company would launch Linea Turbo Jet and Punto 90 bhp by June 2010. Also, we are working and expect to roll out Punto’s CNG variant by the end of this fiscal year.”
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