MUMBAI, India — Premier has re-entered the Indian passenger-car segment with the launch of the Rio compact SUV. The company is well known here as the maker of the Padmini, a locally assembled version of the old Fiat 1100 sedan that is still widely used in taxi fleets but has been out of production for nearly a decade.
The Rio is being sourced from China's Zotye Auto and assembled at Premier's plant in Pune, outside Mumbai.
The new Premier Rio is no relation to the Kia compact of the same name (which is not sold in India). Rather, the new Premier model is based on the 1997 Daihatsu Terios, which Zotye makes in China. The SUV is powered by a 65-horsepower Peugeot-derived 1.5-liter diesel engine. Prices range from $11,300 to $12,900 for the three versions.
According to Premier managing director Maitreya Doshi, "We are targeting a niche segment with the Rio and are following a low-investment, low-risk and low-breakeven strategy. We have done all the engineering and homologation work to adapt the Rio for India and will be selling it through our retail network."
Inside Line says: Never count out an entrepreneur. — Hormazd Sorabjee, Correspondent
Add A Comment »