Fiat Grande Punto launched

Fiat India Automobiles Ltd (FIAL) has introduced its premium compact car Grande Punto in New Delhi. The company rolled it out in both petrol (1.2 litre an 1.4 litre) and diesel modes (1.3 litre). The petrol variant has the price tag of Rs 3.99-5.61 lakh and the diesel model is priced at Rs 4.85-6.11 lakh. The much-awaited car was first unveiled at European market in the year 2005. This car model is launched through a 50:50 joint venture between Italy-based Fiat SpA and domestic auto major Tata Motors.

The newly introduced small car would be rolled out from the company's facility at Ranjangaon in Maharashtra. The Grande Punto is to compete with Maruti Suzuki's Ritz, Hyundai's i20, Skoda's Fabia and Honda Siel's Jazz. Grande Punto would be retailed through over 100 Tata-Fiat dealers network in India. FIAL Chief Executive Officer Rajeev Kapoor told media persons that Grande Punto's launching is a new milestone for the company in the country since Fiat introduce the Italian designs to the Indian soil.

He expressed his confidence by saying that Indian customers are eagerly want to switch to international brands and the compact-car segment is under-tapped. On Friday, the benchmark indices gained strength again on the back of buying in capital goods, technology, metal, realty, financials and auto stocks. The market man said that auto stocks are gaining now-a-days due to various car models launched in the month of June and some to roll out.