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Fiat may hike prices of India cars

Source: PTI
August 28, 2009 14:12 IST
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Carmaker Fiat India Automobiles today said it will consider raising prices of its products as the margins are under pressure.

"There are no margins left ... We may look at revising our prices upward," Fiat India Automobiles President Rajeev Kapoor told reporters on the sidelines of the SAIM annual convention in New Delhi.

The company expects sales to cross 27,000 units this year on the back of newly launched small car Grande Punto and sedan Linea.

Kapoor also said the company would start exporting Linea to South Africa from September this year.

Fiat India Automobiles - the 50:50 joint venture between Italy's Fiat and Tata Motors, has recently arranged Rs 2,500 crore (Rs 25 billion) financing for completing the construction of its manufacturing facility at Chakan.

Fiat had announced Rs 4,000 crore (Rs 40 billion) investment in India operations.

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