Allegedly owned by CPI(M) promoters, it is not cultivated, says Trinamool leader. Rally turnout lower than expected.
Just when it was almost certain that the Tatas were pulling out the Nano project, the West Bengal Cabinet assured help and cooperation to Tata Motors and requested them to change their minds. The West Bengal Cabinet said after a meeting on Thursday that though the Nano project was not on the agenda, it came up for discussion following requests by ministers.
"I am very satisfied and excited about this launch today and the Nano is not for my ego trip... certainly, not an ego trip at all," Ratan Tata said. The price of Rs 1 lakh was announced six years ago when the plan for the Nano was unveiled at an European motor show, he said. He added the fact that the company has kept its promise goes to show that it was not a "gimmick."
According to experts, Tata Tiago JTP and Tigor JTP -- a sedan and hatchback -- are not only powerful and faster than every other car in the segment, but also in the segment above, including their peers Maruti Baleno RS, Volkswagen Polo and others.
The demand from second-time car buyers outstrips the demand from those seeking to upgrade themselves from two-wheelers. Tata Motors' city dealers say about 60 per cent of all Nano buyers are those who already own a car and the rest 40 per cent are those who either own a two-wheeler or have never owned a vehicle earlier.
"The amount payable to the company at the time of booking is Rs 95,000, and the bank would lend this money to the applicant at a less than 10 per cent interest," said S K Goel, chairman and managing director of UCO Bank. He said the scheme offered by UCO was different from that of the State Bank of India, in the sense that UCO would lend any amount less than Rs 95,000 to the customer depending on their need.
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.
"This is for the first time that a manufacturer will charge for an application form. However, it will be refunded if an application is rejected," said a senior bank executive. Bookings are expected to start by the last week of March. The forms will be collected through various channels. "All the forms and the collected money will be transferred to SBI, where they will be processed, and loans will be given through various banks within 90 days," said a source.
Come Sunday, India's automobile industry will achieve a unique distinction of showcasing both the world's cheapest car Nano and two of the costliest brands -- Jaguar and Land Rover -- from the Tata Group.
If Tata pulls out now, it will be a huge blow to the state, and will be expensive for Tata too, as the company has irretrievable sunk cost in Singur of between Rs 350 crore (Rs 3.5 billion) and Rs 500 crore (Rs 5 billion). Among the will be Mamata Banerjee, who will find it hard to live down the ignominy of having deprived her state of a project that has made news the world over.
Tata displayed its facelifted Aria and Safari Storme Mountain Rescue concept cars at the Geneva Motor Show.
Despite what the Nano can do to the country's automobile market, its ability to transform Tata Motors' financials will be limited, says Shyamal Majumdar.
Vyarawalla was upset to learn that the company has already delivered 16 cars in the city yesterday, beginning with customers in Mumbai, followed by Ahmedabad and Vadodara and her name did not figure in this list.
Less than five months after Tata Motors relocated its Nano project from West Bengal to Gujarat over land issues, another Tata group company, Tata Metaliks, is reviewing its expansion project in the state on similar grounds.
The state government has been lobbying the central government for continuation of these incentives.
Also said that the slowing demand for Tata's Nano shows consumers aren't looking for low-cost cars.
He was responding to the shareholders' questions relating to the abandoned Nano car factory at Singur at the AGM of Tata Global Beverages.
"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.
Five months after Tata Motors shifted its Nano plant to Gujarat, another Tata company has decided to move a project out of West Bengal. Tata Metaliks has scrapped its 500,000-tonne billet project, proposed to be built with an investment of Rs 700-800 crore
Making a submission in the court of Justice Saumitra Pal, Tata counsel Samaraditya Pal said that 997.11 acre leased to Tatas (lessee) by West Bengal Industrial Development Corporation (lessor) was not kept idle from the time of execution of the lease deed to the exit from the site by the company.
Tata group chairman Ratan Tata on Tuesday virtually ruled out any investment in Singur and said the company would gladly return the land if compensated.
It epitomises a significant opportunity lost, just when the state was beginning to shed three decades of leftist inhibitions in favour of economic reform.
Nissan's executive vice-president and CEO Carlos Ghosn's key man for his new strategy in emerging markets, Andy Palmer, tells Business Standard how the Tata Nano's experience made his company steer away from the $2,500 car. He also speaks about how Nissan's association with Bajaj Auto to develop a small car failed, making his company place its bets on the Datsun brand to grow its market share 10-fold over the next three years.
Driven by poverty following suspension of work at an ancillary unit of Tata Motors small car project in Singur, a daily wage worker on Wednesday committed suicide at his village, close to the factory site.Sixty-five year old Sushen Santra consumed insecticide at Joymalla village, barely 100 yards from the site, and died at Singur hospital.Santra's wife said they were a poor family and they had no money left after work was stalled in the unit.
Minutes after reports emanating from West Bengal indicated that the Singur impasse had finally come to an end with Tata Motors 'agreeing to give land,' the Tatas have expressed distress at the 'limited clarity on the outcome of the discussions between the state government of West Bengal and the representatives of the agitators in Singur.
The Calcutta high court has dismissed all the petitions challenging the acquisition of land at Singur for the Tata Motors small car plant.
The car will compete with Hyundai Grand i10 and Maruti Suzuki Celerio
According to industry data, for two months, sale of the Zest (7,359 units) were higher than that of Amaze (6,792 units).
Mamata government initiates process to give land back to farmers.
The project was expected to create employment in excess of 10,000 jobs among vendors and service providers in the vicinity of the plant. When Tata Motors announced the small car project in May 2006, it promised to employ 2,000 people directly initially.
The Cyrus Mistry camp is confident that independent directors will take their cue from their counterparts in Indian Hotels.
This is the safest Nano Tata has ever put into production.
The automobile firm's response came in reply to an earlier specific query of the apex court asking it to make its stand clear over the allotted land in the wake of changed scenario as the company had already moved its car plant to Gujarat.
Government officials working overtime to dismantle the Tata plant and return land to farmers, says Ishita Ayan Dutt.
The company said the price hike has been effective from Thursday across the country.
There is a flicker of hope for Tata Motors' abandoned Singur site. A team from government-owned Bharat Heavy Electricals Ltd (BHEL) visited the place, along with state government officials, for a possible project with the West Bengal Power Development Corporation.
After land survey, field survey would start and on completion of that process, the land owners would receive their respective lands
Here's a look at how key Tata group companies fared under Cyrus Mistry's stewardship.
low-cost plans dovetail perfectly with the company's decision to make affordable new models.
The new car, which would come in four variants and two options, is priced between Rs 2.57 lakh and Rs 3.53 lakh.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances