Auto Esporte is reporting that Fiat's Cordoba plant in Argentina, with the help of a $352 million investment, begins production of the Novo Palio and Siena models in March 2011.
The CBD project is a government-funded venture, administered by the Central Bank. The Novo Palio will be the second car after the Chevrolet Agile to be funded by the Argentinian government.
It's certainly an interesting development as Fiat India has a lot riding on the new Palio. The Punto and Linea have given them meaningful volumes and helped fix the tarnished image left behind by the pre-facelift Palio.
Fiat will position the Novo Palio under the Punto. Fiat's excellent Multi-jet diesel engine will feature on the Novo Palio. The 1.0-liter Multiair petrol will take care of duties on the basic model.
Coming to the prices, Fiat could look at a 3.3-lakh rupee starting price for the Novo Palio range. We're at least a year away from the local launch (Auto Expo in January 2012?) and more details are expected in the months to follow, especially with the overseas launch nearing.
Source - revistaautoesporte.globo.com
Image Sourece - autossegredos.com.br