Even after people rushed to various centres to book the Nano on Saturday, the last official day for doing so, dealers undertook bookings on Sunday and Monday, breaching the time-line set by Tata Motors.
Loses less to Hero Honda than Bajaj.
Developers remain cautious on property deals as customers expect further price cuts.
Indian hoteliers and consulting organisations fear that worst is yet to come, as many international companies ranging from large corporate houses to medium-sized firms look to cut back on travel.
Developers remain cautious on property deals as customers expect further price cuts.
Mitsubishi Motor Corporation's plan to produce a volume-generating compact car from India has been indefinitely deferred for lack of funds and sliding demand.
After launching the Nano early this week, the country's leading truck and bus maker, Tata Motors, is now looking to set up a truck manufacturing plant in Myanmar with support from the Indian government in the form of financial participation.
Already partnering seven international brands such as Giorgio Armani and Salvatore Ferragamo, it also plans to tie up with 12-15 global brands in the next five years. The company plans to fund its expansion through a mix of equity and debt and go in for tie-ups through joint ventures and franchise routes. The focus of expansion would be in metros such as Delhi, Mumbai, Hyderabad and Chennai in the initial phase, the official said.
Indian retailers put cash & carry on backburner
The Mumbai-based company will take on Hero Honda, Bajaj Auto and HMSI and will have models in the 100cc, 125cc and 150cc mobike segments, and also in the ungeared low and high-powered scooter segments. Hero Honda has a 60 per cent share of the motorcycle segment, while HMSI commands a 58 per cent of the scooter market. Anand Mahindra said: "Our two-wheeler project is complete; we have already begun marketing the fleet in Bangalore."
The company has already booked Rs 5,450 crore (Rs 54.5 billion) revenue from sale of 5 million sq ft it has sold to DAL. DLF on Tuesday clarified to the exchanges that it had been looking at various options from time to time but no definite option had been presented to the board so far for its consideration.
"The scene will be a bit like the Maruti 800 days. Those who are lucky enough to be allotted cars this year can resell it immediately at a premium of Rs 30,000 due to the anticipated shortage," an executive at a Motors dealer said. Supply, Tata Motors dealers say, would be between 40,000 and 50,000 cars, with 100,000 being the most optimistic estimate. This would mean customers may have to wait for up to two years to get delivery if all the bookings are accepted.
Prices of second-hand cars, mainly compact ones, have fallen 15-20% in the last few days. Dealers in the unorganised market fear a further price dip of 10 per cent when delivery starts and the Nano is seen prominently on roads. The Nano, expected to sport an on-road price of Rs 1.25-1.3 lakh for the no-frills, base version, will compete with the compact cars of Hyundai Motors, Maruti Suzuki, Tata Motors and General Motors.
Tata Motors subsidiary Telco Construction Equipment Company Ltd (Telcon) has opposed a proposal to the Foreign Investment Promotion Board (FIPB) from John Deere for a joint venture with Ashok Leyland to distribute and market its construction equipment in India.
SBI may charge 14 to 14.75% for 5-year loans.
Part of government strategy to push demand.
Developer to bid for work from those who win the final contract.
Automobile component manufacturers are rejoicing over a sudden 30-40 per cent spurt in demand in February. Analysts are, however, not entirely sure of the reason for this high growth; many are doubtful if it can be sustained, given the other gloomy signals. An analyst says, "Almost all car makers have either completely withdrawn or drastically reduced their promotional offers." Also, payment issues as far as vendors are concerned remains a problem.
Companies are either taking small government projects alone or bidding for larger ones with consortium partners. The companies, which had 18-75 per cent of their order books in property development, say they are facing payment delays of 20-90 days from some of the private developers, blocking their working capital requirements. Some of them take a week's advance payment from developers to execute their projects.
Reliance Retail has added 485 stores in the last one year, taking the total count to 950 and the footprint is now spread across 77 cities (58 in the last one year) across India. While his critics say Ambani may have lost the plot as the progress of his retail plans are nowhere near what he had sought to achieve, others feel the Reliance chief is just being pragmatic given the not-so-conducive environment for expansion in retail.
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