Tata Motors to bring another small car
Generally Tata Motors does not utter a word about its present or future plans. But recently the company has broken this myth by giving an indication about one of its upcoming important plan. Recently, Tata Motors has hinted that the company is making plans for a new small car in its product line which will be positioned between Tata Indica and Tata Nano. The company even accepted that they do not have anything in the middle at the present moment and that, it is a big market which is being missed out. Tata’s popular Tata Nano is priced below the amount of Rs. 2 lakh while the variants of Tata Indica are priced above the amount of Rs. 3 lakhs.
Mr Carl Peter Forster, MD and CEO commented that there is a certain white space between the Tata Nano and Tata Indica and the company can be looking at it. He also added that India is coming up as the worldwide capital of small cars. He also said there was no combined product development plan on the discussion with Jaguar Land Rover. According to the sources, this new car model will be developed totally in-house by the company. The new car may step into the market by the year 2012. At present, the segment is largely dominated by Maruti which is followed by Hyundai.
Earlier, the Tata Motors Group was in news for its global sales. The group comprises of Tata, Tata Daewoo and Hispano Carrocera range of commercial vehicles. The Tata passenger vehicles along with distributed brands in India and Jaguar and Land Rover were 86,996 nos. in the month of September 2010. This showed a growth of 19% over the same period last year. For the fiscal (April 2010 – September 2010) the cumulative sales are 511,934 which is higher by 38% in comparison of the corresponding period during the period of 2009-10. On the other side, sales of all commercial vehicles were 40,961 nos. in September 2010, a growth of 18%. Tata Motors is the largest automobile company of India. The company has got the consolidated revenues of Rs. 92,519 crores ($ 20 billion) in the period of 2009-10. Through subsidiaries and associate companies, Tata Motors has got operations in the South Korea, UK, Thailand and Spain.
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