Wednesday, July 1, 2009

Fiat's Chrysler Brand may come in India

Rumours are doing rounds in the Indian auto market that Fiat may launch the Chrysler brand in India. The company has recently got into strategic alliance with Chrysler to market the American auto brand in the international market. Filverio Bonfiglioli, Fiat’s Chief Operating Officer (International Operations), responded as “why not…” when asked about the proposed launch of Chrysler brand by Fiat in India. He was speaking to the reporters on the sidelines of the launch of latest hatch back model Fiat Grand Punto.

Fiat holds 20 percent stakes in the newly formed company Chrysler Group LLC. Chrysler LLC had filed bankruptcy protection and had announced plan for a partnership with Fiat. On June 10, 2009, the ‘Old Chrysler’ formally sold most of its assets and its major brands to the “New Chrysler”. Most of the funding for this purchase had come from the federal government. The new Chrysler is the proud owner of some of the prestigious brands like Avenger, Caliber, Challenger and Viper as well as Dakota and Sprinter in the trucks category. Fiat further has an option to increase the same up to 35 percent and finally up to 51 percent stakes in the new company.

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