Fiat Launches Jeep Compass at a Competitive Price
Mumbai: Fiat Chrysler Automobiles on Monday launched its much awaited Jeep Compass in India, pricing the premium sport-utility vehicle much cheaper than what was widely expected.
At ₹ 14.9-20.5 lakh ex-showroom in New Delhi, the SUV is positioned in the same price bracket as the Mahindra XUV 500, Toyota Innova and the top variant of the Hyundai Creta. It is likely to eat into the market share of the players in the ₹ 1525 lakh premium SUV market.
Most industry experts had predicted the Italian-American automaker to price the Compass at ₹ 18-25 lakh. The company has already secured bookings for more than 5,000 units as well as got 38,000-plus enquiries since it opened bookings earlier in the month. The positive response had made the company to advance the launch by a couple of weeks.
Post the price announcement, it hopes bookings to grow multifold.
“We will start retails on August 6, 2017,” FCA India managing director Kevin Flynn said. “Analysing our pre-bookings data it has made sense for us to prioritise the deliveries of diesel manual transmission variants. We will deliver petrol automatic transmission variants closer to Diwali,” he added. The Jeep Compass will be retailed out of 50 sales outlets, which include FCA and Jeep Destination stores in 47 cities.
Amit Kaushik, MD-India at automotive consultancy firm Urban Science, said FCA has got the pricing spot on and will get healthy response from the market. But the limited dealership network may affect the growth potential, he added.
The Compass is produced out of Fiat India’s manufacturing plant at Ranjangaon on the outskirts of Pune.