I have loved all the new launches of Fiat particularly the ravishing looks of the Palio.I have also written good reviews about this car.
My only worry is due to the global events happening with the mother company FIAT.I know of quite a few Daewoo car owners having a heart burn wondering what would happen to daewoo motors, if it closes down in indian operations, where would they get the spare parts from etc, and because of that reason they have been selling their cars, left right and centre.The prices of daewoo in the seconds market has also dipped drastically.
My only warning is that the same could be happening with fiat soon, unless the company comes up with a restructuring plan soon.Now to give you all a brief on what’s happening at fiat in milan.
Fiat plunged into a crisis after its auto unit’s operating loss widened sharply to EUR429 million in the first quarter, from EUR16 million a year earlier. The troubled carmarker also has unveiled an aggressive plan to sell off EUR3.2 billion in non-core assets to deal with its EUR6.54 billion of net debt.FIAT HAS ALSO RETRENCHED 10, 000 EMPLOYEES IN ITALY.
Speculation that Fiat intends to sell off its stalling automobile division had already contributed to seeing its shares drop 23 per cent since the beginning of 2002, down to a current value of €13.63.
THERE HAVE ALSO BEEN UNCONFIRMED RUMOURS THAT FIAT PLANS TO SELL OF IT’S PRIZED BABY FERRARI TO DRIVE OVER THIS CRISIS.
Now take a look at the marketing strategy applied by Fiat.Suddenly Fiat comes up with a high decibel campaign in India with Micheal schumi and ferrari to support palio.The recent papers read that sachin was being gifted a ferrari by fiat and had meetings with shumi.All this goes on to point that fiat is going all out and exploiting the fact that it has ferrari with it .TILL IT IS THERE.tomorrow if they sell ferrari off then they might not get this chance of using ferrari to prop up THE FIAT IMAGE.
I am only saying that now that the world is becoming a smaller place, we need to be aware of what is happening around the world also, before we decide on what car we buy.
I still recommend FIAT MOTORS.but.with a little more caution.
drive safe .take care.and leave the rest to God.
adios and happy driving
moonraker