The Hindu Business Line : Fiat India launches Petra at Rs 4.75 lakh

IN a bid to grab a significant market share in the growing mid-size sedan market in India, Fiat India on Friday announced the launch of theFiat Petra.

The car, which is modelled on the 178 platform, is equipped with a 1.6-litre petrol engine and has been priced at a competitive Rs 4,75,250 (ex-showroom New Delhi).

Commercial deliveries of the new car will commence from April 30.

Speaking about the launch of the Fiat Petra, Mr Ananda Mohan Gupta, Director Commercial, Fiat India, said, "India has been an important market for Fiat and the Indian automobile industry has seen significant growth in recent times which we feel will be favourable in enhancing the global leadership of Fiat. As part of the global restructuring process, Fiat India has adopted a branding strategy wherein all product offerings in the C-segment based on the 178 platform will be introduced under a single global brand name."

Another petrol variant and a 1.9 -litre diesel variant of the Fiat Petra would be rolled out shortly in the market.

It replaces the Fiat Sienna in the C segment. Since the 1.6-litre engine in the Petra was the same one as was used in the Sienna, the development of the new model has required little investment from the company.

According to company sources, Fiat is hoping that the new car will help in giving a boost to volumes in the current year and is eyeing to double total sales in the year.

Fiat India's sales had more than halved to 10,428 units in the last fiscal.

Meanwhile, with a recent Rs 100-crore fund infusion from the parent company, Fiat India is believed to be working on launching more variants on the 178 platform as well as a premium model under the Alfa Romeo brand.

Also, in order to create awareness for the Fiat Petra, the company is launching a direct marketing campaign having a central theme of `Centre of Gravity'. A massive nationwide on-ground promotion in conjunction with Indian Oil Corporation has been kicked off simultaneously to introduce the Fiat Petra.

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Fiat India launches Petra at Rs 4.75 lakh