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Last updated 5:33PM ET
February 25, 2021
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New Fiat
(wgvu) - Fiat Chief Executive Sergio Marchionne hopes
the redesigned Fiat 500 can be for the Italian automaker what the
iPod was for Apple.
The compact car is being launched today and is a critical part
of Fiat's strategy to secure its recovery. The launch date had been
pushed up by two months to coincide with the 50th anniversary of
the first Fiat 500 in July 19-57.
Marchionne says he admires the iPod's cutting-edge melding of
value and elegance.
He returned Fiat to profitability in 2006 by cutting noncore
businesses, seeking industrial alliances and setting an ambitious
slate of new car launches.
The price of the new Fiat 500 has not been released but media
reports have estimated it to be between 13-thousand-600 and
20-thousand-400 dollars.
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