Fiat India's revenues grow 88% in FY 2014

Italian carmaker Fiat has registered an 88% increase in revenues for FY14 with net sales of Rs. 3,863 crore as against Rs. 2,052.9 crore for FY13. The turnaround comes after the company decided to stop selling its cars through Tata Motors dealerships.

Fiat's sales in India were steadily declining from 22,587 in CY09 to 8,801 in CY13. In FY13, it had managed to move just 6,919 units (March 2013 sales thread). The company started setting up its own sales and service network in April 2013 and in FY14, it sold a significantly higher 11,980 cars (March 2014 sales thread).

While there is no word from Fiat, a report by Financial Express claims that internal sources have revealed that dealers showed more enthusiasm once the company moved away from Tata Motors to market and distribute its cars. This gave more clarity to the dealers in terms of Fiat’s future strategy and led to a rise in volumes.

Fiat has 108 dealerships in the country. The company is aiming to increase this number to 150 by December 2014.

Fiat is also steadily increasing its product portfolio in India. Last month, it launched the Avventura crossover and very soon, it will introduce the 500 Abarth. Additionally, the company is likely to launch the Jeep Wrangler and Cherokee in 2015.

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