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Fiat launches new Punto and signals an industrial alliance

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Fiat launches new Punto and signals an industrial alliance

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Fiat Auto has launched a new version of its Punto, hoping the car can help revive its fortunes. The Punto is Fiat’s biggest seller, and is a major part of the plan to return the Italian car maker to profit by 2007, after five years of losses.

Fiat Chairman, Luca Cordero di Montezemolo, hopes it will send a message of recovery. He said: “Fiat is back and the new Punto is a car that will head its class just like the last model did because of its high levels of technology, safety and Italian style.” Fiat bosses also revealed that they will be signing an industrial alliance with another carmaker by the end of the year to share development costs. No word on who that will be, but Fiat has said it is not an Asian company. Fiat is planning to invest around 10 billion euros in 20 new models between now and 2008. It plans to sell 350,000 Puntos a year.