Just months ahead of the launch of its Rs 1-lakh Nano, the world's cheapest car, automaker Tata Motors has started the process of expanding the dealership network for passenger cars.While the applications have already been invited for dealerships in Delhi and adjoining Ghaziabad, the company officials said that similar exercise is also being carried out in other parts of the country, wherever there is a need for expansion.
Small price difference with Maruti causes customer attrition and back-outs.
The company plans test production of 50-60 cars per day from January.
Bonds/papers of Tata Motors, Reliance, SBI, ICICI and others turn illiquid in international markets.
The wait for the world's cheapest car could soon be over as Tata Motors could commence limited commercial production of the Rs 100,000 Nano from alternate locations so that the first car could roll out towards the end of March 2009 from Pantnagar till the mother plant came up in Sanand near Ahmedabad.
Even as Tata Motors is racing against time to get its new Singur plant near Kolkata ready for commercial roll-out of the Nano by October 2008, the company may need an out-of-the-box solution to overcome some delays in the integrated plant and component park structure proposed for the vehicle.
Rs 1,199 spread comfortably across 84 months or 7 years. The rate of interest is 11-11.5 per cent, which is cheaper than a two wheeler loan.
Spiralling car loan rates continue to dent the passenger car market, as Tata Motors, Hyundai and Honda Motors reported slower sales in July over that in the corresponding month last year.
The Nano price point would see a 65 per cent increase in the number of families that can afford a car.
The land acquisition in Khargpur would start from December as Tata wants to start the project from January. Besides, Telcon, the state government has also completed the acquisition of land for Tata Metaliks project in Khargpur.
Car maker Maruti Udyog Ltd on Thursday said it has recorded highest ever monthly domestic sales for January at 62,248 vehicles a growth of 28.3 per cent over the corresponding month last year.
Even as Tata Motors is working on its ambitious Rs 1-lakh (Rs 100,000) car a Maharashtra-based company Kandaa Motors on Thursday said it is developing a Rs 1.5 lakh (Rs 150,000) car which is expected to be out in next one year.\n\n
Tata Motors, Titan Company & Tata Steel come in at second, third & fourth slots.
Analysts attribute this fall to the recent moderation in energy (mainly crude oil) and commodity prices, lowering of input costs for companies in sectors such as FMCG, consumer durables, and automobiles, reports Krishna Kant.
Transporters and other stakeholders said the vehicles that will be de-registered would mostly be the ones plying in smaller towns and interior parts of the country.
Parts of electric cars are costlier and repairing often means replacing an entire system, which drives insurance premium rates up.
JLR, Tata Steel Europe CEOs caution staff on high risks of leaving the EU
There is also lack of mandate from the government on adoption of electric mobility after ambitious talks of moving all new automobile sales to electric by 2030
The National Highways Authority of India will this year witness the highest ever growth out of the last decade. But Gadkari himself admits his biggest failure as India's roads minister has been his inability to curb loss of life in road accidents.
Budget 2014-15 has done away with the tax sunset clause of March 2014.
Strong festive demand in October helped carmakers register a seven-per cent volume growth in the domestic market, even as the largest player, Maruti Suzuki, reported low single-digit growth.
Sebi ruled that Pendse has violated various provisions of the PFUTP Regulations and the Securities Contracts Regulation Act with his illegal transactions.
Most of the session's gains for both the indices were wiped out as investors rushed to book profits ahead of F&O expiry on Thursday and also due to concerns over stretched valuations.
Tata Motors (down 1.7%) was the top loser on Sensex and Nifty, while Lupin (1.6%) gained the most.
Dividend pay-out by the group companies grew at a compounded annual rate of 15.7% under Cyrus, sharply up from 2.5% in the previous three years
The 50-share NSE Nifty settled lower by 76.05 points, or 0.88 per cent, at 8,615.25
Commercial vehicles witnessed a fall of 15-17% in November as buyers struggled to meet margin money requirements, reports Swaraj Baggonkar.
A high-level three-member committee is formed to grow awareness about fraudulent job offers.
Participants will watch out for the Brexit poll outcome in the late morning trades tomorrow.
Oil and select auto heavyweights bore the brunt of selling pressure; ONGC, RIL, Tata Motors, M&M key losers.
Pollution is not merely the price to be paid for growth; it is also a drag on the same growth.
Auto makers are in the midst of a rally with the NSE auto index up 17.5 per cent since the start of February.
GST will lead to consolidation of multiple indirect taxes
Tata Steel and Tata Chemicals under investor watch
The recovery was led by information technology exporters.
Smaller cities like Pune and Noida score better than 'Vibrant' Gujarat's Ahmedabad.
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