Nanjing Fiat Automobile Co Ltd, the Chinese-based 50-50 joint venture between Fiat SpA and Nanjing Automobile Group has reported that sales of its locally-assembled Fiat range climbed by 37 pct in 2005, compared to the previous year.

The Palio, Palio Weekend and Siena models, all three members of Fiat 'World Car' family, are assembled by Nanjing Fiat under the terms of a joint venture which was first set up in 1999. Three years later car production first commenced, but the process has not been with difficulties and production has remained limited until recently. However both partners remain committed to the project and there are plans to further widen the model range in the near future. The boost in sales comes despite no new models being introduced last year.

The Yuejin Motor (Group) Corporation owns Nanjing Automobile Group and now has two Sino-foreign joint venture bases for manufacturing vehicles, both with the Fiat Group.
 

Firstly there is Naveco Ltd., jointly established with Iveco in 1995, with a total investment of in the company of US$425 million, in which each of Chinese and foreign parties holds a 50 pct equity share respectively, and main products of the company are Iveco light duty commercial vehicles and Sofim diesel engines.

The second is Jiangsu Nanya Auto Co., Ltd., which was jointly established with Fiat Auto S.p.A. in 1999. The total investment in the company was US$282 million, in which each party again holds a 50 pct equity share respectively, main products of such company are Palio passenger car, the Encore passenger car and the Unique small size hatchback.