Italian car maker Fiat is planning to expand its operations in India. The company will launch 12 new models by 2018 and recruit more employees to take the overall number to 5,000.
Fiat is planning to achieve a figure of 1.3 lakh units by 2018. This is an ambitious plan aiming at a compounded annual growth rate of 50 per cent over the next four years. This forecast was presented by Mike Manley, COO of the Asia-Pacific region and a member of the group executive council at Fiat SpA to investors last week.
According to Manley, the Asia-Pacific region will grow more than five times in the next four years to 1.1 million units mainly led by China and India.
The company might launch the Jeep brand in India by mid-2015 against the earlier plan of end-2013. The Grand Cherokee might be assembled locally at the Ranjangaon facility and it will have a separate network managed by an individual team.
Fiat is slowly but steadily ramping up its operations in India. Fiat has never had more than three active models on sale since they set up business in India. The addition of 12 new models based on three platforms will give buyers a wide range and this time things seem positive. However, to achieve their set target, the company will have to further enhance customer experience with the Fiat brand.