AM Online

Fiat looks east

Struggling carmaker Fiat is looking to the Asian market for salvation with news this morning that it plans to ratchet up production in China to 150,000 -200,000 vehicles by 2006, and launch at least one new model annually.

Nanjing Fiat Automobile Co, Fiat's joint venture with Yuejin Motor Group of China, is consideriing plans to add new models to China's fast growing car market – launching the Fiat Siena sedan two months ago and the Fiat Palio in January.

The company sold about 24,000 vehicles in 2002.

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