Fiat is thinking of launching a low-cost brand to rival Renault’s Dacia. "We are wondering if there is space for a low-cost brand such as Dacia in the Fiat world," Fiat CEO Sergio Marchionne said. 

Until now the Italian carmaker was concerned about the costs of building a car in Europe for the European market, but now, Marchionne thinks that manufacturing overseas could be a solution. 

It is not the first time when Fiat considers a low-cost brand, but so far the plans were blocked as executives feared the business plan was not profitable.

If the project will be approved, the products will have a name that highlights the idea of a back-to-basics, such as Innocenti, ABC or 123.

Source: LeftLane