March 29, 2007 (LBO) – Competition in Sri Lankaâ€™s automobile market is increasing with the launch of a range of small Fiat cars well suited for local roads. The Italian manufacturer, famous for its Ferrari and Alfa Romeo brands, wants to capture a slice of the islandâ€™s small but growing auto market, dominated by Japanese and Indian brands.
Pricing is on par with Japanese automobiles but the Fiat vehicles have advanced options,â€ Mahinda Jayaratne, Chief Executive Officer of Fiat agents Euro Motors Private Limited.
Besides, the road conditions in Italy are very similar to Sri Lanka.â€
With Sri Lankaâ€™s creaking road network already chock full of vehicles and rush hour traffic a nightmare for drivers, thereâ€™s increasing demand for convenient, small-sized â€˜city carsâ€™.
Fiat will sell their three latest products, Panda, Doblo and Punto, initially but also plans to market Alpha Romeo, an international sports car brand, in the near future. Fiat has sold two million Doblo vehicles in the European market.
Prices of Fiat cars in the local market will start from 2.8 million rupees but company feels prices are inclined to inc