18.07.2005 Fiat's brand promotion director Lapo Elkann has given the clearest hint yet that Fiat is planning a brand new 'city' car - a Fiat 500 for the 21st Century

Fiat's brand promotion director Lapo Elkann has given the clearest hint yet that Fiat is planning a brand new 'city' car - a Fiat 500 for the 21st Century.

Speaking at a press briefing in Milan last Thursday, Elkann - who is the late Gianni Agnelli's grandson - said that "Fiat has to return to its roots, but interpret them for the world of today." He continued, telling the assembled journalists that "The Cinquecento is the model that I love the most."

Ever since Fiat presented the cute Trepiuno showcar at the Geneva Salon last March, speculation has surrounded plans for a new model. The Trepiuno, with its innovative 3+1 seating arrangement and retro look inspired by the original model, captured the hearts of public and press alike at the Swiss show, although its closeness in size to the award-winning production Panda model meant that it was always a non-starter.

"We have to move closer to our consumer and those people who will be our customers of tomorrow," added Elkann during the press briefing. He has - since being appointed at Fiat marketing boss - embarked to a new strategy of turning Fiat's cars into 'lifestyle' products, particularly by creating alliances with prestige companies such as Bose, Alessi, Alitalia and Sabelt, as well as initiatives such as the Planet Fiat, Playa Fiat and the Triennial Cafe.

The original Fiat 500, became one of the enduring icons of the 1950s, a vehicle which - along with the Vespa scooter - symbolised Italy's post-war recovery, and which literally 'motorised' the nation. It became symbolic of Fiat's ability to build ground-breaking and cost-effective small 'city' cars, a reputation that Fiat want to get back.
 

Fiat 500

The original Fiat 500, became one of the enduring icons of the 1950s, an affordable and small vehicle which symbolised Italy's post-war recovery, and literally 'motorised' the  nation

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Fiat's brand promotion director Lapo Elkann has given the clearest hint yet that Fiat are planning a brand  new  'city'  car


Last month reputable Italian automotive magazine Quattroruote revealed fresh new proposals for a Fiat 'microcar', just 2.65 metres in length and with its engine positioned under the rear seats.

MORE SPECULATION SURROUNDED FIAT'S PLANS LAST WEEK


Meanwhile more speculation surrounded Fiat last week. On Thursday Fiat's share price rose mid rumours that Societa Partecipazioni Finanziarie could mount a bid for the Fiat Group's Magnetti Marelli automotive components business. Recent senior management changes at SPF, including the arrival of Giorgio Magnoni, could be the catalyst for the investment bank to front a takeover consortium.

Also emerging last week was a report in the influential Italian daily - Il Sole 24 Ore - which quoted sources 'very close to Fiat' as stating that the Fiat Group was considering launching a new high yield bond issue amounting to between 500 million and 1 billion euros. This, if it went ahead, would be the first bond issue to be undertaken by Fiat for four years, although the daily paper did add that this was currently one of a number of finance-raising options being currently studied, and that no banks had as-yet been appointed.
 

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18.06.2005

Fresh new proposals for an innovative and ground-breaking new 'microcar' from Fiat, which will be just 2.65 metres in length, have been revealed

© 2005 Interfuture Media/Italiaspeed