"The launch of Grande Punto marks a new milestone for Fiat in India as we bring the quintessentially Italian designs to Indian shores," Fiat India Automobiles Ltd (FIAL) chief executive officer Rajeev Kapoor said in New Delhi
The company believes that the small-car segment is under-tapped and customers are increasingly looking forward to international brands on Indian roads, he added.
Grande Punto, which was first launched in the European market in 2005, would be rolled out from the company's plant at Ranjangaon in Maharashtra in four variants each in both petrol (1.2 litre an 1.4 litre) and diesel modes (1.3 litre).
The petrol variants would cost Rs 3.99-5.61 lakh (Rs 399,000-561,000), while the diesel cars would be offered at Rs 4.85-6.11 lakh (Rs 485,000-611,000).
FIAL, a 50:50 joint venture between Italy-based Fiat SpA and domestic auto major Tata Motors, plans to position the car in the premium hatchback segment along with Maruti Suzuki's Ritz, Hyundai's i20, Skoda's Fabia and Honda Siel's Jazz.
The company said Grande Punto would be retailed through over 100 Tata-Fiat dealers network across the country.
The company's Ranjangaon facility has a production capacity of 200,000 cars and 300,000 engines per annum. It produces Palio Stile and Linea from the plant.
Image: The Grande Punto. Photograph, courtesy: Fiat Group Automobiles