Fiat hoping for 'iPod effect' with new 500 model

0 Comments | AFP, July, 2007

MILAN (AFP) — Italian auto maker Fiat is hoping for the "iPod effect" with the launch of its new 500 model, an updated version of the 1950s motoring classic set to be unveiled later Wednesday.

Fiat chief executive Sergio Marchionne believes once-struggling Fiat can emulate the success of fashionable US technology group Apple, which was regenerated by the sleeky-designed iPod portable music player.

"I want Fiat to become the Apple of the car world and the 500 to be our iPod," chief executive Sergio Marchionne told daily Italian newspaper La Stampa on Wednesday.

The new Fiat 500 is to be revealed to the world later on Wednesday at a glitzy launch party in Turin, the northern Italian hometown of the company, with 7,000 people and a number of Italian celebrities...

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