Fiat planning low-cost models, brand for Europe

To cater to the budget-conscious buyers, Fiat is planning to launch a line of low-cost cars in Western Europe. A total of three models will be launched, two of which will be developed by Fiat’s Brazilian subsidiary. The two models will be based on the Palio and the Uno supermini.

Fiat will restyle and rebadge the two models for sale by 2010 under a new brand aimed at frugal buyers. According to insiders, the third model could be a re-worked version of the Seicento city due for launch in late 2011. The car will be aimed at the Smart ForTwo and the Toyota iQ.

No pricing info is available as of yet but according to AutoCar, the new Seicento could be priced as low as £5500 ($8093 USD).

Source: AutoCar