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Italian luxury sports carmaker <keyword id="301878" type="COMPANY" weightage="100" keywordseo="Maserati">Maserati</keyword> is planning to launch models priced up to Rs 2.2 crore with three new dealerships in the country. 

	The company also has plans to launch a sports utility vehicle globally next year, including India.
 "Our re-entry into the <keyword id="47445" type="UNKNOWN" weightage="100" keywordseo="Indian-market">Indian market</keyword> is a commitment to our customers as there is a definite demand for exclusive luxury products, including cars, in the market," the newly appointed Maserati Head of Operations for India, <keyword id="2951330" type="UNKNOWN" weightage="100" keywordseo="Bojan-Jankulovski">Bojan Jankulovski</keyword> told PTI. 

	Maserati had entered the country in 2011, but later stopped selling cars in the market owing to trouble with its dealer partner. Now, it plans to open three new outlets by September-end this year. 
 

	By entering India and other new markets around the world, the company is able to grow by expansion, he added. 
 

	The company plans to sell four models -- Quattroporte, Ghibli, Gran Turismo and GranCabrio, all priced between Rs 1.14 crore to Rs 2.2 crore. 
 Maserati, which has been part of the <keyword id="6454902" type="CITY" weightage="100" keywordseo="Fiat">Fiat</keyword> Group since 2005, will now operate out of Fiat <keyword id="43551" type="CITY" weightage="100" keywordseo="Chrysler">Chrysler</keyword> Automobiles India. 

	As part of its India plans, the Italian firm is looking to open three dealerships in New Delhi, Mumbai and Bangalore for which it has appointed AMP Supercars, Bagga Luxury Motorcars and Jubilant Autoworks, respectively. 
 

	"Dedicated Maserati service facilities, which are fully in line with Maserati global standards, are also planned for all locations," he said. 
 

	The company intends to further expand its sales network, going ahead. 
 

	"We have plans to expand in other parts of the country as well. Further down the line, we aim to set up dealerships in Kolkata, Hyderabad, Ahmedabad and Chennai," Jankulovski said. 
 

	Elaborating, Maserati Middle East, India, Africa Managing Director Umberto Cini said: "We will focus on exclusivity and hence, our goal in terms of annual sales in India will be in the two-digit range." 
 

	In its last stint in India, Maserati sold around 10 units in the country. 
 

	The cars will be manufactured in Italy and shipped to India as completely built units (CBU). 
 

	The carmaker sold 36,500 units last year globally, with the US and China being the major markets. 
 

	In the current year, the company looks to sell around 75,000 units worldwide. 

	 
	 
	(Image credits: Indiatimes)

Italian luxury carmaker Maserati has grand plans to re-enter India

Mumbai, Feb 23 () FCA India, which had a runaway success with its sole locally made SUV Jeep Compass launched in July 2017 but has tapered off the momentum since then, is "very serious with its operations here" and will produce two-three models from the Ranjangaon facility near Pune, Maharashtra, from next year. The American company will also shortly bring its iconic brand Wrangler Rubicon to the domestic market as early as this quarter, a top company official has said. Playing on the pricing side and technology, Fiat Chrysler Automobiles had launched its fully-locally made Jeep Compass in July 2017 with a starting price of Rs 14.95 lakh, and the vehicle became so popular that within 10 months, the company recovered its investment of USD 250 million from Jeep sales, a first for any foreign auto brand here and especially for an American brand as both their other US brands GM and Ford have failed miserably twice here. Today, over 50,000 Jeep Compasses are plying on roads, while the company has also shipped as many as 17,000 units to around 15 key right-hand drive markets, including Britain, Japan and Australia. "We are very serious with our operations here. We consider the current fall in the volume as a blip and we are very sure it will pass. The headquarters are very happy with us. We have had a huge success and are sure to repeat it again here," Datta told in an interview. On the need for more models, which is critical for the volume game, Datta said, "We fully understand to be more successful we need more models which, so far, we could not have. So, beginning next year, we will have more than two more Jeep models being rolled out from the Ranjangaon facility." FCA has seen its volume plunge by around 30 per cent from its 2018 peak, as consumers have been in a wait-and-watch mode for almost two years now due to the rash of regulatory changes on one hand, and banks and NBFCs have been keeping away from the market for too long now. The USD 3-million industry, primarily entry models-driven, as a whole has seen the volume plunge almost 9 per cent so far this year. Despite the drop, they are still selling 900-1,000 units a month, he added, and so is exports. Whether the company will look at rolling in any luxury hatchbacks and sedans here, Datta answered in the negative saying they "want to be an SUV-only brand in the foreseeable future", as he believes that the future of premium SUVs is bright here. "We are committed to stay in India for long and we are looking at every spoke in the wheel to ensure we are successful again and the headquarters is willing to invest hundreds of millions of dollars more to build our business here," said Datta, who took over the India operations last September, and an FCA veteran having spent over two decades at its global operations. Apart from launching more models, FCA is also widening its reach, which is 17 full-fledged sales centres and 80 mini centres now, he said adding that another area they are working on building the brand is focusing on merchandise and accessories. On bringing in Wrangler Rubicon, which will be priced upwards of Rs 72 lakh, he said, "The demand for the iconic Rubicon is so high that we are already sold out for months." From its CBU (completely built units) stable, the Jeep Wrangler has been the best-seller among all accounting for 67 per cent of the volume, since its entry into the domestic market in August 2016. On the transition to BS-VI, Datta said that as of the first week of February, the entire range of the Jeep Compass has been moved to the new emission norms and that they have no inventory issue with the BS-IV models at all. The BS-VI Compass comes at a higher price tag of 5-7 per cent or Rs 25,000-1,10,000 depending on the model, he said. In June 2019, FCA rolled out the first BS-VI powertrain for both its petrol and diesel variants. Currently, the demand is more for diesel AMT (automatic manual transmission) models. Fiat Chrysler Automobiles Group has been around the globe for the past seven decades, designing, engineering, manufacturing and selling brands like the Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, Ram, and SRT and the luxury Maserati. In the components sector, it operates through Teksid and Comau, and in after-sales services, under the Mopar brand name. BEN HRS

FCA to roll out 2-3 more Jeep models locally from next year

<div class="KonaFilter image-container display-table"><div><div class="image on-image">ReutersFILE PHOTO: 2019 Jeep Wranglers move to the Final 1 assembly line at the Chrysler Jeep Assembly plant in Toledo, Ohio</div></div></div><ul><li><a href="https://markets.businessinsider.com/stocks/fiat_chrysler-stock">Fiat Chrysler</a> sank as much as 5.1% Tuesday after <a href="https://markets.businessinsider.com/stocks/gs-stock">Goldman Sachs</a> gave it a "sell" rating, erasing a month of gains as markets hit record highs.</li><li>The investment bank set its price target at $13.50 per share, implying a 8.5% downside from its current price of $13.67.</li><li>Goldman analysts cited market volatility in Latin America, a lack of investment in high-tech automotive technologies, and Europe's strict CO2 regulations as main issues facing the automaker.</li><li><a href="https://markets.businessinsider.com/stocks/fiat_chrysler-stock">Watch Fiat Chrysler trade live here</a>.</li><li><a href="https://markets.businessinsider.com/?utm_source=markets&amp;utm_medium=ingest">Visit the Markets Insider homepage for more stories</a>.</li></ul><a href="https://markets.businessinsider.com/stocks/fiat_chrysler-stock">Fiat Chrysler</a> fell as much as 5.1% Tuesday after <a href="https://markets.businessinsider.com/stocks/gs-stock">Goldman Sachs</a> initiated coverage on the stock with a "sell" rating.The investment bank set its price target at $13.50 per share. Fiat Chrysler traded at $13.68 per share as of 11.25 a.m. ET, reaching its lowest level since mid-June despite markets <a href="https://markets.businessinsider.com/news/stocks/stock-market-today-sp-500-breaks-3000-us-index-records-2019-7-1028342994">hitting record highs</a> over the last several trading days."We see limited scope for further earnings growth from North America (NA), while other segments of the business face challenges," Goldman analysts George Galliers, Gungun Verma, Bjorn Stadel, and Philipp Konig said in their note.Though the analysts noted Fiat Chrysler has outperformed its competitors over the last three years, they cite its earnings volatility in Latin America and regulatory difficulties in Europe as key issues for the company. Fiat Chrysler can't expect Latin American markets to bring the same profits as they did a decade ago due to "market inconsistencies," according to the report. The automaker also faces a larger climb than its peers to reach Europe's 2021 CO2 compliancy levels.<a href="https://www.surveymonkey.com/r/BI-Young-Investor-Panel" target="_blank" rel="noopener">Markets Insider is looking for a panel of millennial investors. If you're active in the markets, CLICK HERE to sign up.</a>The world's eighth-largest automaker has also fallen behind its competitors in recent technological advancements, the analysts said. While competitors Ford, GM and Mercedes-Benz invest in electric vehicles and high-tech driver assistance systems, Fiat Chrysler "has been more restrained than peers" in entering the high-tech sectors.Wall Street's consensus estimate for Fiat Chrysler's price target stands at $16.88 per share. The company has 12 "buy," 14 "hold," and 3 "sell" ratings, according to Bloomberg data.The company's stock is now down roughly 5% year-to-date.<div>Now read more markets coverage from Markets Insider and Business Insider:<a href="https://markets.businessinsider.com/news/stocks/dominos-pizza-stock-price-q2-earnings-us-same-store-sales-2019-7-1028357034">Domino's Pizza sinks on the latest sign the food-delivery wars are hurting sales</a><a href="https://markets.businessinsider.com/news/stocks/goldman-sachs-2q-earnings-results-beat-estimates-in-second-quarter-2019-7-1028356115">Goldman Sachs beats Wall Street forecasts amid stronger-than-expected trading revenue</a><a href="https://markets.businessinsider.com/news/stocks/anheuser-busch-inbev-asia-ipo-canceled-costs-bankers-millions-fees-2019-7-1028353107?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">JPMorgan and Morgan Stanley just missed out on $170 million in fees after 2019's biggest IPO got pulled</a></div><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://markets.businessinsider.com/stocks/fiat_chrysler-stock">Markets Insider</a></div></div></div>Get the latest Goldman Sachs stock price<a href="http://markets.businessinsider.com/stock/GS-Quote"> here.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/hidden-benefits-amazon-prime-power-user-2017-7">7 lesser-known benefits of Amazon Prime</a></h3> <div> </div> </div>

Fiat Chrysler slumps after Goldman Sachs says to sell the stock

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Fiat Chrysler is spinning off Ferrari and now its stock is surging.
In pre-market trade on Wednesday, shares of Fiat Chrysler trading in New York were up better than 13%.
Shares of Fiat listed in Milan were up about 5% following the news. 
According to headlines from Reuters, Fiat Chrysler said it will offer a 10% stake of Ferrari on the market and distribute the rest of the company to its shareholders. 
In a statement, Fiat CEO Sergio Marchionne said, "As we move forward to secure the 2014-2018 Business Plan and work toward maximizing the value of our businesses to our shareholders, it is proper that we pursue separate paths for FCA and Ferrari."
Fiat Chrysler's board also mandated that management complete the spin off in 2015, and shares of Ferrari will be listed in both the US and another European market.

Fiat Chrysler Shares Spike After Company Announces Plan To Spin Off Ferrari

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Consumer Reports released the <a href="https://autos.yahoo.com/news/consumer-reports--2014-car-reliability-survey-finds-japan-on-top-164529371.html" target="_blank">2014 Reliability Survey</a> this week, with Fiat rated as the least reliable brand on the list. 
According to the publication, the least reliable Fiat vehicle is the brand's 500L crossover. 
The 500L is a follow-up to the 500, a compact car that Fiat introduced to the U.S. market in 2010.
The biggest gripes about the 500L concern the car's infotainment system and transmission. 
"Fiat's survey rating is really being hurt by its manu-matic transmission," CR deputy auto editor Jon Linkov told Business Insider. 
The Fiat 500L's transmits power from the engine to the wheels using what it calls the "Euro Twin Clutch transmission" - essentially a manual transmission that shifts itself.
In theory, the manu-matic transmission should provide quicker shifts for increased fuel economy and acceleration.
However, reviewers complained about its sluggish and inconsistent shifting characteristics. 
This - in addition to problems with the car's Chrysler UConnect infotainment system - caused the 500L to finish last in the survey.
Other Fiat Chrysler Automobiles brands did not fare much better. Jeep finished second-to-last in the survey, followed by Ram and Dodge in third and fourth position from the bottom. Chrysler fared the best of the FCA brands, with a 22nd-place finish (out of 28 total)
Much of FCA's poor performance in the survey - which includes data from more than a million car owners - can be attributed to the iffy reliability of the company's highly rate UConnect infotainment system and the way the 8- and 9-speed ZF automatic transmissions change gears, according to Consumer Reports.
<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>
"The transmissions are generally not breaking down, " said Linkov. "Drivers are taking the cars back to the dealership because they aren't happy with the way the transmission shifts." 
Linkov believes some of these complaints may be due to the differences in driving style between American consumers and the European buyers that Fiat is more accustomed to.
FCA's weak showing may have led to the resignation of the company's head of quality control, Doug Betts. He stepped down on Tuesday.
Even its problems on CR's reliability survey, Fiat Chrysler's sales have been booming. Total sales are up 15% this year. The company's Ram and Jeep are doing particularly well, with overall sales up 25 and 45% respectively.
Here's is Consumer Reports' review of the Fiat 500L.
<div><biembeddedobject id="9784740a-5dd7-4e32-d4cf-dd19e53aa0d9"></biembeddedobject></div>

This Is The Car That Finished Last On Consumer Reports' Reliability List

FCA1984 Dodge Caravan.<ul class="summary-list"><li>Fiat Chrysler is discontinuing the Dodge Grand Caravan minivan after nearly 40, and production will end in May. </li><li>Many say the Dodge Caravan became the first minivan when it arrived for the 1984 model year along with its Plymouth Voyager sibling, kicking off the minivan boom.</li><li>Thus, Chrysler - now called Fiat Chrysler - created the minivan segment as we know it.</li><li>The minivan market has since declined from its 2000 peak, but FCA still holds a firm grip on it to this day.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>In May, Fiat Chrysler will end production of the Dodge Grand Caravan - the minivan that many say started it all. The minivan segment roared from the 1980s through 2000, when minivan sales hit their peak. They've declined steadily since, and many manufacturers have ducked out of the market in favor of the new boom: crossovers and SUVs. But minivans had a strong run, even if the market has shrunk in the past couple of decades, and the Dodge Caravan kicked that run off when it rolled off of the line in 1983. Although its competitors would introduce their own minivan in the years that followed, Chrysler remained the king of the market. In 2019, FCA was responsible for <a href="https://media.fcanorthamerica.com/newsrelease.do?id=21383&amp;mid=1104">54%</a> of all minivans sold in the US, and the <a href="https://www.motor1.com/news/401286/fca-axes-1500-jobs/">Dodge Grand Caravan</a> was the America's best-selling minivan overall. Fiat Chrysler <a href="https://www.caranddriver.com/news/a31156055/dodge-grand-caravan-end-production/">confirmed</a> in February that the Grand Caravan would be discontinued, and that production would stop in May. While the end of the Grand Caravan doesn't necessarily signal the end of the American minivan all together - Chrysler will still sell the Pacifica and Voyager, and several other automakers sell competitors - it certainly marks the end of an era.As the Caravan prepares to leave the market it began, here's just how it came to be the staple of a decades-long boom:

Dodge is killing its Grand Caravan soon - see how it kicked off the rise and fall of the American minivan

<div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>Hedge funds are shorting Fiat's stock, as doubts emerge that a full merger with Chrysler will happen on schedule.
"Hedge funds Marshall Wace LLP, Odey Asset Management LLP and Adage Capital Partners GP LLC are among firms shorting Fiat," <a href="http://www.bloomberg.com/news/2014-08-13/fiat-shorts-surge-on-concern-over-chrysler-transaction.html">Bloomberg's Sofia Horta e Costa reported</a>, citing the company's own data.
Fiat and CEO Sergio Marchionne stepped in to take Chrysler off the U.S. government's hands during the 2009 meltdown of the Detroit automakers. Both Chrysler and General Motors had to bailed out by the government and later went bankrupt. At the time, Chrysler was widely assumed to be the weakest of the Big Three Detroit car companies. (Ford didn't take bailout funds and avoided bankruptcy).
Since those dark days, Chrysler has enjoyed a resurgence and Fiat has returned to the U.S. market after a multi-decade absence. Fiat fully acquired all of Chrysler's shares in January, 2014, but the two firms have yet to fully merge.
As Horta e Costa noted, Fiat shareholders in early August okayed a plan for Fiat and Chrysler to form a single entity, Fiat Chrysler Automobiles NV, "to be incorporated under Dutch law and traded on the New York Stock Exchange."
Here's where is gets tricky - and the hedge funds enter the picture. The Fiat shareholders who didn't vote for the merger are entitled to a payout: They can sell their stakes back for a premium. However, according to Horta e Costa, if the total buyback cost goes over 500 million euros, Marchionne thinks the deal will fail.
And so down goes Fiat stock, and in come the hedge funds to short it.
The question now is whether Marchionne will figure out a way to keep the merger on track.
So far, he's has been able to execute on his plan to transform Fiat into a major global carmaker with a strong North American presence, on a par with Toyota, General Motors, and Volkswagen.
This latest episode could be a mere bump in the road, but it could also upset the hoped-for final integration of two car companies that formed an unlikely bond five years ago.

Hedge Funds Are Trying To Get In Fiat-Chrysler CEO Sergio Marchionne's Head

Fiat Chrysler Chief Executive Sergio Marchionne said on Saturday that he had visited with Tesla, Apple and Google during a recent trip to California.
Marchionne, speaking on the sidelines of the opening of a Maserati dealership near Toronto, said he had met with Apple CEO Tim Cook and Tesla CEO and founder Elon Musk, among others, on the trip, during which he rode in Google's self-driving car.
"I'm incredibly impressed with what that kid has done," he said, referring to Musk.
The titans of Silicon Valley have been hosting other international dignitaries recently, including Japan's Prime Minister Shinzo Abe, <a href="http://www.businessinsider.com/japans-pm-shinzo-abe-made-some-new-friends-in-silicon-valley-2015-4">who visited with Elon Musk and took a ride in a Tesla Model S</a> earlier this month.
What's notable about Marchionne's &#xa0;pow-wow with Tesla, Apple and Google is Fiat Chrysler has just started to wade into the world of green car technology.
Fiat bought shares of Chrysler from the US Treasury back in 2011, a time when Chrysler was barely bouncing back from the throes of another downturn.
A failed partnership with Daimler AG (then DaimlerChrysler), a bankruptcy filing in 2009, and an aging slate of vehicles that American buyers quickly lost interest in meant the brand was struggling to regain its footing in the US. Fiat secured full ownership of Chrysler last year.
Early on, the Fiat-Chrysler merger effectively launched Chrysler back into the American luxury car space, but it also gave Fiat new gusto to introduce fresh products, like the Fiat 500e. The battery-powered version of the 500 hatchback debuted at the Los Angeles Auto Show in 2012, and went on sale in California in summer 2013, before rolling out to other states later. About 645 of them were sold that year.
Though Fiat Chrysler initially <a href="http://www.reuters.com/article/2014/05/21/chrsyelr-ceo-evs-idUSL1N0O71MS20140521">appeared hesitant to wade into the hybrid/electric market</a>, it stands to reason that the company may want to explore further opportunities in this space, if not with a new model of its own, perhaps through a partnership with one of the established giants like Tesla, Google or Apple - which has been rumored to be <a href="http://www.businessinsider.com/apple-electric-car-project-detail-2015-3">developing a car</a>.
<a href="http://www.businessinsider.com/its-might-sound-crazy-but-fiat-chrysler-and-either-gm-or-ford-could-merge-2015-3">It wouldn't be the first time</a> Fiat's&#xa0;Marchionne floated such a big idea.
(Reuters reporting by Allison Martell)

Fiat Chrysler CEO on Elon Musk: 'I'm incredibly impressed with what that kid has done'

<div class="KonaFilter image-container display-table float_right"><div><div class="image">Thomson ReutersA new Fiat Chrysler Automobiles sign is pictured after being unveiled at Chrysler Group World Headquarters in Auburn Hills, Michigan.</div></div></div>The United Auto Workers has notified Fiat Chrysler Automobiles NV of its intention to have workers walk off the job as early as late Wednesday night, the company said on Tuesday."FCA US confirms that it has received strike notification from the UAW. The Company continues to work with the UAW in a constructive manner to reach a new agreement," Fiat Chrysler said in a statement.A notice to Fiat Chrysler's U.S. vice president for employee relations, Glenn Shagena, by the UAW's lead Fiat Chrysler negotiator, Norwood Jewell, said the current four-year contract extension would be expire at 11:59 p.m. on Wednesday.UAW leadership had hammered out a provisional contract with FCA and sent it to the unions members for a vote. Last week, the membership voted not to approve the contract, which was expected to serve as a template for contracts with GM and Ford workers. A key sticking point is the so-called "two tiered" wage structure. New hires are paid at the Tier 2 level, significantly below the Tier 1 wage. The UAW wants to eliminate this. In the proposed FCA contract, CEO Sergio Marchionne and UAW negotiators had developed a roadmap for Tier 2 workers to be paid more. However, FCA has hired more Tier 2 workers since the financial crisis, bailout, and bankruptcy than any other Detroit automaker. Losing the dual-wage structure could affect the car maker's business in negative ways.A strike at FCA is the last thing Marchionne needs right now. He's preparing an IPO of Ferrari, which has long been owned by Fiat. The offering, expected to launch later this month, could value the Italian supercar manufacturer at as much as $11 billion, according to market watchers.(Reporting by Bernie Woodall; Editing by Matthew Lewis)

You Searched For "fiat out from india market" and got 9 results

Italian luxury carmaker Maserati has grand plans to re-enter India

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Fiat Chrysler slumps after Goldman Sachs says to sell the stock

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