Fiat plans to source auto parts worth 250 mn euro by 2010

Italian automobile manufacturer Fiat on Wednesday said it will source auto parts from India worth 250 million euro (about Rs 1,595 crore) by 2010, which will be more than eight times the present 30 million euro.

“We will source auto parts worth a minimum of 250 million euro from India by 2010,” Fiat Group Purchasing SRL CEO Gianni Coda told reporters here today.

The sourcing would be carried out for the company’s auto manufacturing plants at Europe, Brazil and North America, he said.

Auto parts in India would be about 10-15 per cent cheaper. The decision would also help the company broadbase its global market for sourcing.

“We are talking to vendors in India who will need to invest in their facilities to meet our demands,” he said.
The auto maker has deployed a team of 40 people for the purpose.

Fiat buys about 8 billion euro worth of auto parts from markets like Eastern Europe, Northern Africa, South America, India and China.

It plans to increase its purchases to 9.5 billion euro by 2010 from these markets.

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