NEW DELHI, SEPT 1: Fiat India Automobiles Ltd (FIAL) will introduce a station wagon version of its mid-luxury car - Fiat Siena - in the first quarter of the next calendar year. This will be the first station wagon to be launched in the country.Meanwhile, Fiat Palio, which will cost Rs 4-5 lakh, will now be launched by the end of this calendar year, FIAL managing director, Gianni Ravina, told newspersons here. The company is still considering whether to launch the Palio hatchback or Palio Weekend Station Wagon first. ``We are still working on which of the two versions to launch first. We will take a decision soon and make an official statement on that by the end of September,'' Ravina said. He also mentioned that the ``decision is likely to waiver in the favour of Palio Weekend''. According to Ravina, station wagons are a niche segment and are likely to generate a more positive response as compared to hatchbacks. In such a situation, the hatchback version of the Palio will be launched in the first quarter of the next calendar year.According to a official, the launch of the Palio, the other car of Fiat SpA's World Car Project - codenamed Project 178 - has been delayed because of capacity problems and the Euro-norms imbroglio. Moreover, the company wanted to launch Palio around the same time as Ford Ikon and Opel Corsa so that their competitors could not get an edge over them. The exact price tag of this car is still not known, but is likely to be in the region of Rs 4.5 to Rs 5 lakh.FIAL has pledged US $ 1 billion investment in India over the next five years for varied activities. The company plans to have a local content of 70 per cent in the Fiat Palio at the time of launch. Both Fiat Uno and Siena too have a local content of over 70 per cent, the official said.Palio will be introduced in the Indian market with a 1.2-litre multi-point injection petrol engine. This four cylinder overhead camshaft engine delivers 72 bhp at 6000rpm. Its torque rating is 10.2 kgm at 3000rpm.There are five cars under the Fiat World Car Project - Siena, Palio Hatchback, Palio Weekend, Palio Pickup and Palio Van. FIAL plans to introduce Palio Pickup and Palio Van by 2001, a company official said.Meanwhile, the company has no plans to phase of Fiat Uno. There are also no plans to reintroduce Uno Trend - the stripped-down version of Fiat Uno, a company official said. Uno Trend was earlier introduced for the growing taxi segment in India.
