Fiat’s station wagon Siena Weekend hits market

MUMBAI, SEPT 11: Italian automobile major Fiat Auto has made inroads into the station wagon market by launching `Siena Weekend', priced at...

MUMBAI, SEPT 11: Italian automobile major Fiat Auto has made inroads into the station wagon market by launching `Siena Weekend’, priced at Rs 7.21 lakh for petrol and Rs 7.76 lakh for the diesel version in Mumbai. In Delhi, the car will cost Rs 7.27 lakh and Rs 7.87 lakh respectively, Fiat India’s Managing Director G V Ravina said on Sunday.

Siena Weekend would be Rs 90,000 cheaper than its lone competitor Maruti Baleno Altura, which was launched last week. "Even though station wagons are new to India, we believe that this market segment could grow to the European and American levels in future," Ravina said while unveiling the car. The company has targeted to sell about 600 Siena Weekends in calender 2000 and about 1,500 to 2,000 units next year.

Ravina said the `Siena Weekend’ is the second model to be launched in the country from the parent company, Italian auto maker Fiat Spa’s 178 model World Car platform.

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The five-door hatchback car would have a 1600 cc multi-point fuel injection (MPFI) petrol engine with 16 valves and an 1700 cc turbo charged diesel engine. "An optional safety package including driver side airbags with pre-tensed seat belts and anti-lock braking system (ABS) would also be offered for an additional Rs 60,000 by the end of this year," FIL’s Commercial Director Enrico Fererro said. The safety features include fire prevention fuel cut-off system, anti-submarining seats, collapsible steering column and impact protection valves.

`Siena Weekend’ would have a local content of 40 per cent in the initial phase which would be increased to about 70 by the end of this year. On new models, Ravina said the company would launch its mid-sized car, Palio, in mid-2001, at a price of about Rs 4 lakh. The Palio would be the third car from the company’s World Car project under which cars produced around the world as per similar specifications to achieve universal quality.

Ferrero said the company is targeting to corner a four per cent market share in the mid segment segment by 2001, which comprises Uno and Palio cars, by selling 30,000 units and about a market share of five per cent next year in the upper segment by selling about 6,000 units of the Siena and Siena Weekend cars.

When asked whether its existing entry model Uno will be discontinued, Ravina said: “There is no question of discontinuing Uno. We will be reviewing the position of Uno after Palio’s launch, but we will continue to produce Uno till there is demand for even a single car.”

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Alfredo Altavilla, product manager for the world car project, said India has been identified as a major production base for Fiat Auto of Italy.

Fiat eyes insurance sector
MUMBAI: FIAT Spa of Italy eyeing forays into the vehicle insurance, information technology and aviation sectors in India. “The Fiat group is actively studying the market for its insurance and aviation businesses,” Pietro Valfre’di Bonzo, Chief Corporate Representative of Fiat International in India, said.

“With the insurance sector opening up in India, it is providing us greater opportunities. We are actively considering getting into the vehicle insurance sector primarily and will then move on to general and life insurance in the second phase,” Valfre said.

The insurance sector foray would be made through Fiat group arm Toro Assicurazioni and the aviation foray through Fiat Avio. Fiat Avio is engaged in the business of producing supersonic jet engines. In India, the company is planning to set up an engine maintenance base, on the lines of a centre in China.