FIAT of Italy announces new model

Memphis News.Net
Friday 5th September, 2008

Auto major Fiat has released plans to bring out a new low-cost car that would be the cheapest among its stable of vehicles.

Fiat CEO Sergia Marchionne has told reporters: 'By 2010, Fiat is planning to launch a low-cost car, not under the Fiat brand, but under another brand.'

Marchionne did not name the other brand or disclose the price of the proposed car, which will be launched globally.

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