The largest automaker in Italy, Fiat Spa is choosing to remain in its joint venture with Tata Motors.However, some terms of the agreement will be changed.
According to sources, Fiat and Tata are frustrated with the joint venture for the previous year.One reason being, that FIAT’s sales numbers are lower than expected and dealers in the Tata network prefer to sell Tata than Fiat vehicles.
In addition, in order to reduce its dependence on markets like Europe, Fiat has been making engines in India.
When asked about the debt crisis, Chrysler and Fiat’s chief said, “Italy’s government must regain credibility in capital markets as it strives to bring its finances in order and work toward lightening its debt burden.”
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