The Palio, Fiat’s so-called ‘world car’, has gone on sale in China with its maker expecting the market to grow from 700,000 to 1.2 million units a year in the next three to four years.
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The Palio will be produced by a new company, Nanjing Fiat, a 50/50 joint venture between Fiat and the Yuejin Motor Group. The two companies have previously formed joint ventures to market Iveco commercial vehicles and Teksid automotive parts.
The Palio will be built at a new factory in Nanking and the new company will also set up marketing and dealer operations to distribute the cars in China.
Fiat will target the rapidly developing Chinese private owner market, in particular first time buyers.
The Palio, now in its second generation, has proven a global success for Fiat, and is produced in Latin America, Africa, India for sale both in those areas, and export to Europe.
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By GlobalDataThe car was designed with equipment levels and technical specifications to suit emerging markets.
