Plans by Fiat to counterballance the supremacy of Renault on the cheap car market in Europe are gaining pace as Italian newspaper Il Giornale has revealed the Italian company prepares a 5,000 euro model to be launched by the end of 2006.
The information was leaked by Fiat head Luca di Montezemolo during a private dinner in Venice, where the company threw a reception to celebrate 100 years since the Lancia brand was launched.
The newspaper writes the car would be produced in Bursa, Turkey, by a joint-venture between Fiat and Turkish group Koc. The low-price model will be part of the Albea series which is also built in Turkish factories.
The new model will cost little over 5,000 euro and is aimed at developing markets. It will not be sold on the West European market, where Renault’s Logan is present at prices starting with 7,500 euro.
