|
Sunday, 30.09.2007
Fiat's aims for bigger market share with new Russian plant
Turin / Yelabuga. Fiat Group Automobiles and its Russian partner will open a new plant in Russia in hopes they can carve out a bigger share of that country's booming foreign car market. A company executive told Automotive News Europe (ANE) that the new factory will make about 60,000 units of the Fiat Linea lower-medium sedan each year.
|
|
The plant, a 50-50 venture with Severstal Auto, will be located in Yelabuga, in Russia's Volga region, and will open in 2009.
|
"Russia will soon become one of the world's most important car markets, not only by volume, but also for defining trends," Fiat group Marketing Director Luca De Meo told Russia-Now.
|
Through eight months Fiat's Russian sales rose to 10,598 units, allowing the company to become Russia's 19th-ranked foreign brand - up from 45th last year, according to the Association of European Businesses in the Russian Federation.
|
The new plant will be part of Fiat's worldwide manufacturing network, which means Severstal gains access to Western production techniques. Fiat group CEO Sergio Marchionne said in a statement that Fiat, in turn, will benefit from Severstal's knowledge of the Russian market.
(mig/.rufo/Moscow)
|
|
