R-34
05-26-2003, 05:37 PM
Fiat to Sell Cars in Mexico
Associated Press - May 19, 2003
Motor Trend
Struggling Fiat group said Monday that it will soon begin selling cars in Mexico using the local dealership network of ally General Motors Corp.
Versions of Fiat Auto's Palio model, made in Brazil, will be available in Mexico by the third quarter of the year, the company said.
It said it expects sales of around 20,000 cars a year.
The new agreement strengthens ties between Fiat and GM, which bought a 20 percent stake in Fiat Auto in 2000. Fiat also has an option to sell the remaining share to the Detroit automaker starting in 2004
Fiat, Italy's largest private employer, has been hit hard with slumping sales in the Italian and Western European markets. However, it is the largest seller of vehicles in Brazil
Associated Press - May 19, 2003
Motor Trend
Struggling Fiat group said Monday that it will soon begin selling cars in Mexico using the local dealership network of ally General Motors Corp.
Versions of Fiat Auto's Palio model, made in Brazil, will be available in Mexico by the third quarter of the year, the company said.
It said it expects sales of around 20,000 cars a year.
The new agreement strengthens ties between Fiat and GM, which bought a 20 percent stake in Fiat Auto in 2000. Fiat also has an option to sell the remaining share to the Detroit automaker starting in 2004
Fiat, Italy's largest private employer, has been hit hard with slumping sales in the Italian and Western European markets. However, it is the largest seller of vehicles in Brazil