In
a meeting with financial analysts, Fiat Auto chief Giancarlo Boschetti
announched that Fiat would introduce a cheaper version of the unpopular
and poor selling Stilo later this year. This "no-frills" version, expected
to be launched around October, the same time as the Stationwagon is introduced
will cost around €13,900. Fiat claim that the Stilo, Italy's best
selling saloon, is selling in much higher numbers that the Bravo and Brava
that it replaced. However a raft of retail incentive schemes and employee
purchase plans disguise the true sales figure. Fiat expect this new entry-level
version to have a positive impact on first quarter sales in 2003, a period
that could be make or break for the car division after what is expected
to be a slow final half of this year.
After selling 370,000 cars
to the end of June, Boschetti has forecast sales of a further 300,000 to
the end of the year ( compared with 825,000 for the whole of last year
), trimming his target to a loss from break even by 31st December.
Boschetti also said that
pre-production orders for the new Phedra MPV and Thesis luxury saloon were
"ahead" of targets, but was reluctant to discuss specific figures. |