This is a common problem with Bravos, and with other Fiats too, and has put me off a few Bravos while shopping for one. There are aftermarket covers you can buy, and if you search the forums you'll find some have had success with getting their wheels reupholstered with new leather.
A place called royal steering wheels mate, if you scroll through the threads on the bravo section you'll find one called that and it has all the info you need