Fiat has recently unveiled plans to produce a further five small cars in the next two years in order to finally return a profit in European, Middle Eastern and African markets.
The models are to be based on the current 500 and Panda ranges. Fiat says that the new Panda variant will be a four-wheel drive crossover model with enough off-roading capability to rival full-on SUVs. The other four models are all to be based on the 500, which means that Fiat will have to tap into some seriously niche markets; especially when you consider the vast array of 500 variables currently on sale... maybe it'll make one with wings or something.
As well as the new models, Fiat is also trying to reposition itself in the market. Alfredo Altavilla, Fiat Group's Head of the EMEA region, said, "We are redesigning the DNA of the Fiat brand with a clear strategic objective to position it in the premium segment of the market." This means that the new models could be closer rivals to cars such as the Citroen DS3 and the MINI.
So, new models and a new image; but is that going to be enough? The majority of car manufacturers believe that recovery in European markets is going to be a slow one due to high unemployment and a lack of readily available credit. At the Frankfurt Motor Show earlier this month, many executives stated that further cut backs are needed across Europe in order to return to profitability.
Anything else?
In an interview with newspaper Corriere della Serra, Altavilla also said that Fiat will soon be completing an important deal in Russia, but gave no further information.