Karnataka may have narrowly lost the race for housing Tata Motors’ Nano car plant but that is not stopping the southern state from nursing ambitions of winning the second round of the same race. It was late last year when Tata Motors announced that it would set up the first plant for producing the Rs 1-lakh car at Gujarat’s Sanand rather than Karnataka’s Dharwad, among other places.
Now, if all goes well, Karnataka will get a chance to play host to Tata Motors' proposed second Nano car plant in South India. The state government has been assured by the company that Dharwad will be a preferred choice for the company's plans to expand its Nano manufacturing capacity into South India.
The state government, in turn, has assured the company that it will provide the required land as well as tax concessions, similar to those offered by the Gujarat government, for setting up the second Nano car plant, Karnataka minister for medium and large industries Murugesh R Nirani said.
"When Tata Motors initially came to inspect Dharwad, we had offered them 600 acres within 24 hours and had assured another 400 acres in three months. But the company chose to go to Gujarat for reasons best known to them. However, they have told us, for expansion of their Nano car capacity, they will consider Dharwad and we have promised them all possible help," he told Business Standard.
Nirani added the state government recently acquired 2,500 acres at Dharwad, adjacent to the existing Tata Motors' bus plant, where the company had intended to set up the Nano plant. Tata Motors had indicated a requirement of around 1,000 acres.
"We have already discussed this with the company's higher officials. They have plans to set up one more plant in South India for producing the Nano car and they want to do it in Dharwad because it is closer to Pune, where they have a major presence. Tata Group Chairman Ratan Tata has invited us for further talks in this regard and we will soon meet him," Nirani said.
Tata is currently manufacturing the Nano at their plant in Pantnagar. Its dedicated Nano car plant will be operational at Sanand in Gujarat by early 2010.
At Dharwad, Tata Motors currently operates two plants to manufacture construction equipment under the Telcon brand name. It also produces buses in a joint venture with Brazil's Marcopolo. So far, it has acquired 600 acres and employs around 3,500 workers in both the plants. The company has invested close to Rs 500 crore in its bus plant, which started commercial production in January this year.
In addition to Tata's Nano car plant, the state government is also in talks with Korea's car maker Hyundai Motors and the domestic utility vehicle major, Mahindra and Mahindra, for locating their new plants in Karnataka.
Recently, the state government approved an additional investment proposal of Rs 800 crore by Toyota Kirloskar Motors at Bidadi, near Bangalore. The government is also planning to hold a special meeting with the automobile industry very soon in Bangalore, as a precursor to its forthcoming global investors' meet scheduled to be held in January 2010, Nirani added.
Source: Business Standard (MSN News)
Showing posts with label nano updates. Show all posts
Showing posts with label nano updates. Show all posts
IGNIS New launch from Tata Motora Coming Soon
Tata Motors, part of globally acclaimed Tata group and also known for bringing innovations at times (certainly for the recent Tata Nano imbroglio), is on the verge of rolling out a brand new variant of its most popular car Tata Indica Vista. It has been learnt that the new version will be named as IGNIS and will become the fourth variant of Tata Indica Vista, as a result.
Tata Motors Limited happens to be a multinational corporation headquartered in Mumbai, India.
It is the largest company in the automobile and commercial vehicle sector of India, and a midsized player on the world market with 0.81% market share in 2007 in accordance with OICA data as well.
As per the OICA ranking (based on figures for 2007), it was the 19th largest automaker in the global arena. Apart from this, Tata Motors is the world’s fourth largest truck manufacturer, and the world’s second largest bus manufacturer.
It is to be noted that the company has three variants in its grip already; Aqua, Terra and the Aura. As per the latest info, IGNIS will have 1.4L Saffire engine that powers Fiat Grand Punto at this time. This new engine will certainly be a pleasing transition as the current 1.2L Saffire unit is often considered insufficient for the size of the car.
What are the other exciting features? It has been found that IGNIS version will have re-furbished interiors with a new dash integrated audio system with call answer and reject buttons, bluetooth connectivity and USB connectivity. It also features a new steering wheel with steering mounted audio controls and electrically adjustable outside rear view mirrors. Keyless entry is also standard.
Apart from all these, the new variant will contain dual front airbags, ABS and EBD as added safety features; there has been a great dearth of these in the Indica Vista range of models.
What will be the price? It will be priced at Rs. 4.5- 5 lakh.
Tata Motors Limited happens to be a multinational corporation headquartered in Mumbai, India.
It is the largest company in the automobile and commercial vehicle sector of India, and a midsized player on the world market with 0.81% market share in 2007 in accordance with OICA data as well.
As per the OICA ranking (based on figures for 2007), it was the 19th largest automaker in the global arena. Apart from this, Tata Motors is the world’s fourth largest truck manufacturer, and the world’s second largest bus manufacturer.
It is to be noted that the company has three variants in its grip already; Aqua, Terra and the Aura. As per the latest info, IGNIS will have 1.4L Saffire engine that powers Fiat Grand Punto at this time. This new engine will certainly be a pleasing transition as the current 1.2L Saffire unit is often considered insufficient for the size of the car.
What are the other exciting features? It has been found that IGNIS version will have re-furbished interiors with a new dash integrated audio system with call answer and reject buttons, bluetooth connectivity and USB connectivity. It also features a new steering wheel with steering mounted audio controls and electrically adjustable outside rear view mirrors. Keyless entry is also standard.
Apart from all these, the new variant will contain dual front airbags, ABS and EBD as added safety features; there has been a great dearth of these in the Indica Vista range of models.
What will be the price? It will be priced at Rs. 4.5- 5 lakh.
EMI spurs Nano cancellations
V R Sundaram was thrilled to bits when Tata Motors allotted him the Nano in June. He had booked the car through the Pollachi branch of State Bank of India in Tamil Nadu.
But the 58-year-old businessman's elation was shortlived because he was soon told the car would be delivered only by March 2011.
To boot, monthly instalments for the loan would start in July.
That's because EMIs on the booking amount (between Rs 95,000 and Rs 140,000, depending on the model, and the interest paid thereon @10%-10.5%) start a month after allotment.
Tata Motors completed the allotment process for Nano in June.
In all 100,000 people received allotments and 55,000 were named 'retainees' whose booking amounts Tata Motors retained, promising to pay them interest @8.75%.
Sundaram promptly cancelled his booking. "Why should I pay interest now when I am getting the car only in 2011?" he asked.
Sundaram is one of the many who have been deterred by the huge gap between when the instalments start and when the car is actually delivered.
Banks say they are seeing increasing requests for cancellation of allotments. At some banks, close to half the allottees have cancelled.
Central Bank of India, for example, received around 9,200 applications for the Nano, of which 7,200 got allotments. However, 4,700 of these are to get the car only in 2011, and a majority of them have opted out, an official with the bank said.
"We have already received applications for 3,000 cancellations... the last date for
cancellation is August 20," said the official.
P Nandkumaran, chief general manager, auto loans, at State Bank of India, said the group's banks had warned Tata Motors about the possibility of cancellations.
"This was bound to happen. People would not be comfortable getting possession of the car later while having to pay the instalments much earlier," he said.
He did not give an estimate of the cancellations as it was difficult for the public sector
behemoth to collate the data from its 12,000 branches across the country.
A Tata Motors spokesperson confirmed that the company is aware of the cancellations.
"Our first priority is to deliver the car to the one lakh allottees and then move on to the 55,000 retainees. Meanwhile, as people cancel, the queue moves up and the retainees will get their cars earlier than planned. Starting from July we have dispatched 2,475 cars and plan to complete delivery of the one lakh allotments by the last quarter of 2010."
The story at Chennai-based Indian Bank is no different. It sold 3,200 forms of which 434 got allotments. Of these, 210 have been cancelled, said A K Dhar, general manager, retail loans.
"Since cancellations were coming in batches, we had to designate July 23 as the last date for it," Dhar said.
More "than 60-65% of the 5,000 people" who applied for the car through Union Bank of India have either not got allotment or chosen not to take it.
"About 2,400 got allotments from our bank but we are still processing the data for cancellations," a bank official said.
Bangalore-based Canara Bank got 1,818 applications for the car, of which 530 were rejected.
M Dohare, chief manager, marketing and new initiatives at Kolkata-based United Bank of India said 2,366 applicants out of 3,270 have been allotted the car. Of these 1500 deliveries will happen before 2010 and the rest in 2011.
"The majority of the cancellations are from those getting allotment in 2010-2011. But there are others also from the lucky 100,000 who are withdrawing. We cannot give an exact figure as our last date for cancellations is August 20," Dohare said.
Not just banks, dealers are also facing cancellations because of the long waiting period.
Sudeep Chakravarty, manager (Nano) at Sanya Motors, Aurangabad, agreed high interest payments have forced many to give up.
"If people go for the finance option, they have to pay interest which amounts to an average of around Rs 25,000 a year till they get delivery. After delivery, they have to pay EMIs and the actual rate of interest, which is another Rs 25,000. People are not willing to spend Rs 50,000 for this," Chakravarty said.
That apart, those who booked through ICICI Bank, the only private financer for the car, have faced another problem.
"The bank has placed a rider that it will finance only people who have Rs 5 lakh established annual income. This has led to many cancellations from ICICI," Chakravarty said.
Online's no different.
Tufail Khan, vice-president marketing at Carwale.com,said his company sold 10,000 forms and of these, 2,000 got allotment. "We haven't yet spoken to all the allottees, but our survey says around 20% will cancel as their allotment date is sometime around December 2010 and they do not want to wait that long."
The Nano is currently being produced at the Pantnagar facility of Tc which has an annual capacity of 50,000 units, and once the Sanand plant in Gujarat goes on stream by the first quarter of 2010, the company will manufacture 350,000 units a year.
But the 58-year-old businessman's elation was shortlived because he was soon told the car would be delivered only by March 2011.
To boot, monthly instalments for the loan would start in July.
That's because EMIs on the booking amount (between Rs 95,000 and Rs 140,000, depending on the model, and the interest paid thereon @10%-10.5%) start a month after allotment.
Tata Motors completed the allotment process for Nano in June.
In all 100,000 people received allotments and 55,000 were named 'retainees' whose booking amounts Tata Motors retained, promising to pay them interest @8.75%.
Sundaram promptly cancelled his booking. "Why should I pay interest now when I am getting the car only in 2011?" he asked.
Sundaram is one of the many who have been deterred by the huge gap between when the instalments start and when the car is actually delivered.
Banks say they are seeing increasing requests for cancellation of allotments. At some banks, close to half the allottees have cancelled.
Central Bank of India, for example, received around 9,200 applications for the Nano, of which 7,200 got allotments. However, 4,700 of these are to get the car only in 2011, and a majority of them have opted out, an official with the bank said.
"We have already received applications for 3,000 cancellations... the last date for
cancellation is August 20," said the official.
P Nandkumaran, chief general manager, auto loans, at State Bank of India, said the group's banks had warned Tata Motors about the possibility of cancellations.
"This was bound to happen. People would not be comfortable getting possession of the car later while having to pay the instalments much earlier," he said.
He did not give an estimate of the cancellations as it was difficult for the public sector
behemoth to collate the data from its 12,000 branches across the country.
A Tata Motors spokesperson confirmed that the company is aware of the cancellations.
"Our first priority is to deliver the car to the one lakh allottees and then move on to the 55,000 retainees. Meanwhile, as people cancel, the queue moves up and the retainees will get their cars earlier than planned. Starting from July we have dispatched 2,475 cars and plan to complete delivery of the one lakh allotments by the last quarter of 2010."
The story at Chennai-based Indian Bank is no different. It sold 3,200 forms of which 434 got allotments. Of these, 210 have been cancelled, said A K Dhar, general manager, retail loans.
"Since cancellations were coming in batches, we had to designate July 23 as the last date for it," Dhar said.
More "than 60-65% of the 5,000 people" who applied for the car through Union Bank of India have either not got allotment or chosen not to take it.
"About 2,400 got allotments from our bank but we are still processing the data for cancellations," a bank official said.
Bangalore-based Canara Bank got 1,818 applications for the car, of which 530 were rejected.
M Dohare, chief manager, marketing and new initiatives at Kolkata-based United Bank of India said 2,366 applicants out of 3,270 have been allotted the car. Of these 1500 deliveries will happen before 2010 and the rest in 2011.
"The majority of the cancellations are from those getting allotment in 2010-2011. But there are others also from the lucky 100,000 who are withdrawing. We cannot give an exact figure as our last date for cancellations is August 20," Dohare said.
Not just banks, dealers are also facing cancellations because of the long waiting period.
Sudeep Chakravarty, manager (Nano) at Sanya Motors, Aurangabad, agreed high interest payments have forced many to give up.
"If people go for the finance option, they have to pay interest which amounts to an average of around Rs 25,000 a year till they get delivery. After delivery, they have to pay EMIs and the actual rate of interest, which is another Rs 25,000. People are not willing to spend Rs 50,000 for this," Chakravarty said.
That apart, those who booked through ICICI Bank, the only private financer for the car, have faced another problem.
"The bank has placed a rider that it will finance only people who have Rs 5 lakh established annual income. This has led to many cancellations from ICICI," Chakravarty said.
Online's no different.
Tufail Khan, vice-president marketing at Carwale.com,said his company sold 10,000 forms and of these, 2,000 got allotment. "We haven't yet spoken to all the allottees, but our survey says around 20% will cancel as their allotment date is sometime around December 2010 and they do not want to wait that long."
The Nano is currently being produced at the Pantnagar facility of Tc which has an annual capacity of 50,000 units, and once the Sanand plant in Gujarat goes on stream by the first quarter of 2010, the company will manufacture 350,000 units a year.
Tata nano First commercial consignment come's to Hyderabad
Tata Motors on Tuesday rolled out the first commercial consignment of Nano, regarded as the World’s cheapest car to be showcased at Hyderabad on Tuesday.
“The first consignment has come to Hyderabad. Tata Nanos’ have been dispatched particularly for Hyderabad. They have sent 84 cars, out of which 50 are Tata Nano and the rest 34 are Magic,” said S K Singh, Area Manager of Tata Motors.
Residents in the ‘Twin Cities’ of Hyderabad and Secunderabad had been eagerly waiting for the Tata Nano, costing just over Rs 1,00,000.
They contended that this car is a boon for the middle class society.
“In Rs 1,00,000, you get a Pulsar. Here, in one lakh, five people can travel together. I need to find out the details about its mileage. Once these cars start running on road, all motorcycles will disappear,” said Deep Bhavanishankar, a local resident.
“The first consignment has come to Hyderabad. Tata Nanos’ have been dispatched particularly for Hyderabad. They have sent 84 cars, out of which 50 are Tata Nano and the rest 34 are Magic,” said S K Singh, Area Manager of Tata Motors.
Residents in the ‘Twin Cities’ of Hyderabad and Secunderabad had been eagerly waiting for the Tata Nano, costing just over Rs 1,00,000.
They contended that this car is a boon for the middle class society.
“In Rs 1,00,000, you get a Pulsar. Here, in one lakh, five people can travel together. I need to find out the details about its mileage. Once these cars start running on road, all motorcycles will disappear,” said Deep Bhavanishankar, a local resident.
Nano Homes - The “Bottom of the Pyramid”
Tata group has once again caught the attention of the world media with its announcement of the launch of a low-cost housing programme. Many global newspapers, from Business Week covered the news prominently. According to the Tata Group, the houses will cost less than Rs.4 Lakh. Even though many other property developers have also built affordable houses, Tata group got huge media coverage because of the spillover effect of the “Tata Nano Car”.
According to the “Telegraph” newspaper, this is what Mr. Brotin Banerjee, CEO of Tata Housing, said “This is a huge opportunity to serve those at the bottom of the pyramid. Our inspiration is the millions of Indians who cannot afford proper housing and live in shanties.” The newspaper also says that “millions of slum-dwellers are expected to jump at the chance to own a home in a proper building”.
Tata Group aims to achieve two things from this venture – first, fulfill its corporate social responsibility and second, make profit. This is precisely what Mr. C.K. Prahlad, the renowned management guru, has been advocating.
In his 2006 book “The fortune at the bottom of the pyramid”, Mr. Prahlad describes the people at “the bottom of the pyramid” as those 4 billion people living on less than $2 per day. He argues that “If we stop thinking of the poor as victims or as a burden and start recognizing them as resilient and creative entrepreneurs and value-conscious consumers, a whole new world of opportunity will open up” and “When the p oor are converted into consumers, they get more than access to products and services. They acquire the dignity of attention and choices from the private sector that were previously reserved for the middle class and rich.?”
Mr. Prahlad cites the successes of Nirma and ITC as two best examples of profitably serving the “bottom of the pyramid” customers. While Nirma succeeded by targeting lower income group with its affordable detergents (Hindustan Lever initially ignored it but later realized the huge potential in this market), the latter combined technology and the village “mandi” to generate profit for themselves and for the farmers by eliminating the middlemen.
Now it is the turn of Tata Group to effectively use the idea of the “bottom of the pyramid”. First they came up with Tata Nano. Now they are planning to repeat the success of the idea with its Nano homes. With this, Tata Group is once again setting a great example as a company that cares not only for profits but also for people. Will other companies follow suit?
According to the “Telegraph” newspaper, this is what Mr. Brotin Banerjee, CEO of Tata Housing, said “This is a huge opportunity to serve those at the bottom of the pyramid. Our inspiration is the millions of Indians who cannot afford proper housing and live in shanties.” The newspaper also says that “millions of slum-dwellers are expected to jump at the chance to own a home in a proper building”.
Tata Group aims to achieve two things from this venture – first, fulfill its corporate social responsibility and second, make profit. This is precisely what Mr. C.K. Prahlad, the renowned management guru, has been advocating.
In his 2006 book “The fortune at the bottom of the pyramid”, Mr. Prahlad describes the people at “the bottom of the pyramid” as those 4 billion people living on less than $2 per day. He argues that “If we stop thinking of the poor as victims or as a burden and start recognizing them as resilient and creative entrepreneurs and value-conscious consumers, a whole new world of opportunity will open up” and “When the p oor are converted into consumers, they get more than access to products and services. They acquire the dignity of attention and choices from the private sector that were previously reserved for the middle class and rich.?”
Mr. Prahlad cites the successes of Nirma and ITC as two best examples of profitably serving the “bottom of the pyramid” customers. While Nirma succeeded by targeting lower income group with its affordable detergents (Hindustan Lever initially ignored it but later realized the huge potential in this market), the latter combined technology and the village “mandi” to generate profit for themselves and for the farmers by eliminating the middlemen.
Now it is the turn of Tata Group to effectively use the idea of the “bottom of the pyramid”. First they came up with Tata Nano. Now they are planning to repeat the success of the idea with its Nano homes. With this, Tata Group is once again setting a great example as a company that cares not only for profits but also for people. Will other companies follow suit?
The 'Nano Home'
First it launched the Tata Nano – the world’s cheapest car. Now, the company that owns Jaguar Land Rover and Corus Steel is giving India the world’s cheapest home.
Dubbed “Nano homes” by the Indian media, Tata’s housing project will sell one-room, 283 sq ft flats, less than half the size of a squash court, for 390,000 rupees (£5,200) on the outskirts of Mumbai – a city where property prices compete with those in London or New York.
A more expensive option, for 670,000 rupees (£9,000) is 465 sq ft and has a living room and separate bedroom. The cheaper property costs just 1,378 rupees, or £18.50, per square foot, thought to be the cheapest urban real estate in the world. Like the £1,300 Tata Nano car, the homes are aimed at Indian families who could not normally afford to get onto the property ladder.
Millions of slum-dwellers are expected to jump at the chance to own a home in a proper building.
“This is a huge opportunity to serve those at the bottom of the pyramid,” Brotin Banerjee, CEO of Tata Housing, said. “Our inspiration is the millions of Indians who cannot afford proper housing and live in shanties.” Tata Housing expects a turnover of 1,000,000,000 rupees, £13.4 million, in the first phase.
“Parents don’t want their children to grow up in unhygienic shanties. It is the dream of anyone in the world to own their own house and that is what we are offering – brand new homes in clean, hygienic, well-built buildings,” Mr Banerjee continued.
The first complex of 1,000 homes is under construction in a town called Boisar, 60 miles from Mumbai. It will include a hospital, school, playground and gardens.
By the end of 2009, Tata Housing plans similar projects in Delhi and Bangalore. The group may eventually expand the model to Europe or the US.
Dubbed “Nano homes” by the Indian media, Tata’s housing project will sell one-room, 283 sq ft flats, less than half the size of a squash court, for 390,000 rupees (£5,200) on the outskirts of Mumbai – a city where property prices compete with those in London or New York.
A more expensive option, for 670,000 rupees (£9,000) is 465 sq ft and has a living room and separate bedroom. The cheaper property costs just 1,378 rupees, or £18.50, per square foot, thought to be the cheapest urban real estate in the world. Like the £1,300 Tata Nano car, the homes are aimed at Indian families who could not normally afford to get onto the property ladder.
Millions of slum-dwellers are expected to jump at the chance to own a home in a proper building.
“This is a huge opportunity to serve those at the bottom of the pyramid,” Brotin Banerjee, CEO of Tata Housing, said. “Our inspiration is the millions of Indians who cannot afford proper housing and live in shanties.” Tata Housing expects a turnover of 1,000,000,000 rupees, £13.4 million, in the first phase.
“Parents don’t want their children to grow up in unhygienic shanties. It is the dream of anyone in the world to own their own house and that is what we are offering – brand new homes in clean, hygienic, well-built buildings,” Mr Banerjee continued.
The first complex of 1,000 homes is under construction in a town called Boisar, 60 miles from Mumbai. It will include a hospital, school, playground and gardens.
By the end of 2009, Tata Housing plans similar projects in Delhi and Bangalore. The group may eventually expand the model to Europe or the US.
Nano Bulk Orders Placed as Company Incentive by firm
Nano fever has gripped the corporate world as well. Companies like Shree Cement, Linc Pen have placed bulk orders for Nano. These Nanos will be offered to employees as an incentive or as rewards for their performance.
Shree Cement has booked 1000 Nano cars attributing fuel efficiency as its main reason rather than the price factor. “I decided to book Nano not because it is a cheap car but due to its fuel efficiency. We want to burn minimum fuel. I too intend to leave my golden silver BMW and ride the first Nano which drives into our office. Of the total 1,000 cars booked, we hope to get about 200 cars between July 2009 and June 2010. The balance 800 cars will be allotted to us later.” “The cars will be given to the employees as part of the company’s HR strategy,” said Shree Cement managing director HM Bangur. The company intends to upgrade employees’ two wheeler allowances and the employees will have to fulfill Nano eligibility criteria to get the cars as incentive.
The IT sector has been hit by recession and the IT employees have also taken their preference towards Nano model. Linc Pen is the second company that has placed order for 11 Nano cars for its employees.
Submitted by Satish Kalepu
Source:cartradeindia
Shree Cement has booked 1000 Nano cars attributing fuel efficiency as its main reason rather than the price factor. “I decided to book Nano not because it is a cheap car but due to its fuel efficiency. We want to burn minimum fuel. I too intend to leave my golden silver BMW and ride the first Nano which drives into our office. Of the total 1,000 cars booked, we hope to get about 200 cars between July 2009 and June 2010. The balance 800 cars will be allotted to us later.” “The cars will be given to the employees as part of the company’s HR strategy,” said Shree Cement managing director HM Bangur. The company intends to upgrade employees’ two wheeler allowances and the employees will have to fulfill Nano eligibility criteria to get the cars as incentive.
The IT sector has been hit by recession and the IT employees have also taken their preference towards Nano model. Linc Pen is the second company that has placed order for 11 Nano cars for its employees.
Submitted by Satish Kalepu
Source:cartradeindia
Unable to book Nano, LIC agent hangs self
It’s compact, comfortable and affordable — the stuff middle-class dreams are made of. But the Tata Nano, the new symbol of upward
mobility in India, is also fuelling some despair.
And Arun Kumar Tiwari’s story proves just that. A small-time LIC agent from Jamshedpur, Tiwari hanged himself at his Agrico Colony home on Sunday afternoon after he was unable to book his Nano.
Tiwari had been dreaming of driving the showpiece small car for months. But the wish was futile: he would not be able to pay the monthly instalments. He didn’t earn enough and his last hope was his wife, who works for a private firm and brings home around Rs 10,000 a month. But she refused, prompting him to take his life.
“He had been trying to convince me to book the Nano. Since I’m already repaying a two-wheeler loan, paying Rs 1,800 monthly as instalments, I was in no position to book a car and pay another Rs 3,000 every month,” said Dulari Devi, his wife.
No one was at home when Tiwari hanged himself. While Dulari was out on work, their only son was playing with boys in the neighbourhood. “When I told him that we’d first pay the two-wheeler loan and then book the car, he seemed convinced. But God knows what happened to him that he suddenly took this drastic step,” Dulari said, tears in her eyes.
According to police, Tiwari was probably depressed after his wife refused to pay the booking amount. “The preliminary investigation suggests that he was a very emotional man. He probably couldn’t accept the refusal and went into depression. He tried to raise the money on his own, but didn’t succeed. It was then that he decided to hang himself,” said a senior officer.
Rajendra Dubey, officer-in-charge of Sidhgora police station, refused to comment till the investigation was completed. “A case of unnatural death has been registered, based on the statement of the victim’s wife and an investigation started. I can speak on the case only after we reach a conclusion,” he said.
Source: timesofindia.indiatimes.com
mobility in India, is also fuelling some despair.
And Arun Kumar Tiwari’s story proves just that. A small-time LIC agent from Jamshedpur, Tiwari hanged himself at his Agrico Colony home on Sunday afternoon after he was unable to book his Nano.
Tiwari had been dreaming of driving the showpiece small car for months. But the wish was futile: he would not be able to pay the monthly instalments. He didn’t earn enough and his last hope was his wife, who works for a private firm and brings home around Rs 10,000 a month. But she refused, prompting him to take his life.
“He had been trying to convince me to book the Nano. Since I’m already repaying a two-wheeler loan, paying Rs 1,800 monthly as instalments, I was in no position to book a car and pay another Rs 3,000 every month,” said Dulari Devi, his wife.
No one was at home when Tiwari hanged himself. While Dulari was out on work, their only son was playing with boys in the neighbourhood. “When I told him that we’d first pay the two-wheeler loan and then book the car, he seemed convinced. But God knows what happened to him that he suddenly took this drastic step,” Dulari said, tears in her eyes.
According to police, Tiwari was probably depressed after his wife refused to pay the booking amount. “The preliminary investigation suggests that he was a very emotional man. He probably couldn’t accept the refusal and went into depression. He tried to raise the money on his own, but didn’t succeed. It was then that he decided to hang himself,” said a senior officer.
Rajendra Dubey, officer-in-charge of Sidhgora police station, refused to comment till the investigation was completed. “A case of unnatural death has been registered, based on the statement of the victim’s wife and an investigation started. I can speak on the case only after we reach a conclusion,” he said.
Source: timesofindia.indiatimes.com
Hero Honda to Start ‘Peoples’ Bike..?
Hero Honda is keen to do a Tata Nano to the motorcycle market.
“This (a low-price bike) has been on our horizon for a long time but we haven’t been able to come up with a solution till now,” Pawan Munjal, the company’s managing director, said in an exclusive chat with DNA. “But this is not the end and we hope to come up with a solution... we continue to work on this.”
The company controls 70% of the entry level bike (engine capacity above 75 cc but less than 125 cc) market and is equally comfortable straddling the less price-sensitive segments.
Munjal’s admission comes at a time when arch rival Bajaj Auto is believed to be ready with a low-priced bike, which is being contract manufactured in China. Expected to be priced at around Rs 25,000, this 125cc bike would initially be sold in overseas markets including China before being launched in India. Going by vendors, this bike is most likely not a step-thru moped kind of vehicle and any cost advantage to Bajaj is largely on account of sourcing extensively from China.
For its product, then, Hero Honda will need to take India’s frugal engineering prowess, as showcased in the Nano, to the next level. Munjal is clear his ‘Nano’ bike must be very affordable. “Whatever we bring should certainly have a significant price advantage.”
Also, there is no compromising on either durability or performance. “Just because we have an enhanced rural focus, it does not mean that rural customers can be offered products which do not stand the test of performance or durability. In fact, rural customers need sturdier vehicles (than urban ones),” said Munjal.
So it may be a regular motorcycle, after all. Munjal cited Hero Honda’s earlier experience with mopeds --- which he dubbed as “glorified cycles” --- to emphasise that performance and load carrying capacity were essential.
“We launched one of Honda Motor Co’s most popular models in 1997, called the Street. It was a step thru motorcycle, an engineering marvel, but didn’t quite work in India. Why? Because the customers saw it essentially as a moped and expected it be priced like one,” he explained.
Vendors too indicate that any full-blooded low-priced vehicle for India would need to be developed from scratch, since the low-cost bikes Honda Motor sells in markets such as Thailand and China are all step-thru.
“This (a low-price bike) has been on our horizon for a long time but we haven’t been able to come up with a solution till now,” Pawan Munjal, the company’s managing director, said in an exclusive chat with DNA. “But this is not the end and we hope to come up with a solution... we continue to work on this.”
The company controls 70% of the entry level bike (engine capacity above 75 cc but less than 125 cc) market and is equally comfortable straddling the less price-sensitive segments.
Munjal’s admission comes at a time when arch rival Bajaj Auto is believed to be ready with a low-priced bike, which is being contract manufactured in China. Expected to be priced at around Rs 25,000, this 125cc bike would initially be sold in overseas markets including China before being launched in India. Going by vendors, this bike is most likely not a step-thru moped kind of vehicle and any cost advantage to Bajaj is largely on account of sourcing extensively from China.
For its product, then, Hero Honda will need to take India’s frugal engineering prowess, as showcased in the Nano, to the next level. Munjal is clear his ‘Nano’ bike must be very affordable. “Whatever we bring should certainly have a significant price advantage.”
Also, there is no compromising on either durability or performance. “Just because we have an enhanced rural focus, it does not mean that rural customers can be offered products which do not stand the test of performance or durability. In fact, rural customers need sturdier vehicles (than urban ones),” said Munjal.
So it may be a regular motorcycle, after all. Munjal cited Hero Honda’s earlier experience with mopeds --- which he dubbed as “glorified cycles” --- to emphasise that performance and load carrying capacity were essential.
“We launched one of Honda Motor Co’s most popular models in 1997, called the Street. It was a step thru motorcycle, an engineering marvel, but didn’t quite work in India. Why? Because the customers saw it essentially as a moped and expected it be priced like one,” he explained.
Vendors too indicate that any full-blooded low-priced vehicle for India would need to be developed from scratch, since the low-cost bikes Honda Motor sells in markets such as Thailand and China are all step-thru.
BASF to supply innovativeness to Nano cars
BASF India’s Tata Motors Nano car project to provide products and solutions to reduce emissions and improve fuel efficiency, and improve the overall vehicle design.
“We trust that to help customers be more winning for the company’s future strategic growth,” head and CEO of BASF India, South Asia head of PrasadChandran said: “As a effect, BASF is toiling intimately with our customers and strive to give tailor-made innovative solutions. BASF for Tata Nano venture in time spans of a very extraordinary meaning, because in this venture, BASF through geography, technical knowledge and the extents of considering in rank to get concurrently the extraordinary wants of Tata companies. ”
Development of products for the Nano car challenge is the need for Tata Motors tailored to the specific needs of its various solutions and processes. In the Nano project, BASF global network to form a concerted effort of many experts, has led to the birth of innovative programs.
BASF for the Tata Nano motor vehicle to give innovative results
With good cost-effective emission lessening results
For demonstration, BASF catalyst part Nano has evolved a catalytic converter to endow it to rendezvous present emission measures in India. BASF in India collaboration of localized professionals in the United States, colleagues, and finally to accomplish a good cost-effectiveness, and to rendezvous the release requirements. BASF in India, Chennai (Chennai) with a catalyst constructing facility.
Reduce vehicle burden to enhance fuel competence
Nano to use the plastic intake manifold Tata Visteon by the production and use of BASF’s Ultramid -based glass fiber reinforced engineering plastics. Intake manifold for delivery to the engine combustion air requirements, the traditional use of aluminum material. Ultramid in lieu of aluminum, 40 percent can reduce the weight of components to improve fuel efficiency and reduce emissions, which has become the basic characteristics of Nano. From the design phase of the computer simulation study, the pilot phase to test the components, BASF, through its Plastics Technology Center for the Tata Motors to provide a series of development support.
Spice for Nano
The Nano motor vehicle, BASF amid the most significant addition to the body shade of color and gloss. Beginning in 1998, BASF has been for Tata Motors Indica, Sumo, Safari, Indigo and other automotive cover in paint enterprise models. At present, BASF Coatings has been picked as the Tata Motors Nano body-color, one of the suppliers.
“For this kind of Nano venture to give innovative yield, services and very fruitful method is mostly important.” Group vice head, BASF Asia-Pacific Automotive Industry Team Leader Mr Ouda, said: “Such ventures as the worldwide deliver procedure enterprise, BASF is very apparent advantages. BASF has in Europe, North America and Asia, the fundamental thought of some innovative motor vehicle manufacturers has deduced plastics, catalysts and coatings solutions. The intent of doing so, we not only deliver yield with a charge advantage. In show up, BASF close support with customers, integrated cost and recital attentions, the complete development of the most very fruitful solution.
“We trust that to help customers be more winning for the company’s future strategic growth,” head and CEO of BASF India, South Asia head of PrasadChandran said: “As a effect, BASF is toiling intimately with our customers and strive to give tailor-made innovative solutions. BASF for Tata Nano venture in time spans of a very extraordinary meaning, because in this venture, BASF through geography, technical knowledge and the extents of considering in rank to get concurrently the extraordinary wants of Tata companies. ”
Development of products for the Nano car challenge is the need for Tata Motors tailored to the specific needs of its various solutions and processes. In the Nano project, BASF global network to form a concerted effort of many experts, has led to the birth of innovative programs.
BASF for the Tata Nano motor vehicle to give innovative results
With good cost-effective emission lessening results
For demonstration, BASF catalyst part Nano has evolved a catalytic converter to endow it to rendezvous present emission measures in India. BASF in India collaboration of localized professionals in the United States, colleagues, and finally to accomplish a good cost-effectiveness, and to rendezvous the release requirements. BASF in India, Chennai (Chennai) with a catalyst constructing facility.
Reduce vehicle burden to enhance fuel competence
Nano to use the plastic intake manifold Tata Visteon by the production and use of BASF’s Ultramid -based glass fiber reinforced engineering plastics. Intake manifold for delivery to the engine combustion air requirements, the traditional use of aluminum material. Ultramid in lieu of aluminum, 40 percent can reduce the weight of components to improve fuel efficiency and reduce emissions, which has become the basic characteristics of Nano. From the design phase of the computer simulation study, the pilot phase to test the components, BASF, through its Plastics Technology Center for the Tata Motors to provide a series of development support.
Spice for Nano
The Nano motor vehicle, BASF amid the most significant addition to the body shade of color and gloss. Beginning in 1998, BASF has been for Tata Motors Indica, Sumo, Safari, Indigo and other automotive cover in paint enterprise models. At present, BASF Coatings has been picked as the Tata Motors Nano body-color, one of the suppliers.
“For this kind of Nano venture to give innovative yield, services and very fruitful method is mostly important.” Group vice head, BASF Asia-Pacific Automotive Industry Team Leader Mr Ouda, said: “Such ventures as the worldwide deliver procedure enterprise, BASF is very apparent advantages. BASF has in Europe, North America and Asia, the fundamental thought of some innovative motor vehicle manufacturers has deduced plastics, catalysts and coatings solutions. The intent of doing so, we not only deliver yield with a charge advantage. In show up, BASF close support with customers, integrated cost and recital attentions, the complete development of the most very fruitful solution.
High Expectations For 'TATA NANO'
Finally the most awaited car, not only in India but in the whole world, is out for sale. This car has been in limelight for years. Ratan “Man of his words” Tata’s dream has come true. Looking to it I must say it is a wonderfully crafted car and I have great expectations form the Nano.
It is the first rear engine car since the Maruti Omni. The rear engine enables large space for passengers in limited dimensions. This also helps reducing the vibrations. Engine is two cylinder MPFI 625cc producing power of 33 bhp @ 5500 rpm. That is 2 hp less than Maruti 800 engine. Even though power of engine is less the chassis is made out of aluminium. This makes this car really light. So the top speed is increased as an advantage.
That apart, there are no compromises done in important systems like steering system, suspension system and transmission system [4+1]. The tyres are tubeless. Brakes used are drum type in front as well as rear, but I they are sufficient enough. No need of disk brakes.
There are various apt cost cutting techniques made by the engineers. The boot does not opens, single but powerful windscreen wiper, exterior parts of it are glued together, no power steering, single side view mirror, 3 nuts on the wheels instead of the statutory 4 nuts.
I friend who works for TATA MOTORS told me that the project manager of the Nano has done his graduation from MIT. I was surprised to know this. But I was even more surprised when he told me that the MIT is the Maharashtra Institute of Technology, Pune and not the American one. So it can be surely said that “the Peoples Car” is of Indians, made by the Indians, for the Indians.
It is the first rear engine car since the Maruti Omni. The rear engine enables large space for passengers in limited dimensions. This also helps reducing the vibrations. Engine is two cylinder MPFI 625cc producing power of 33 bhp @ 5500 rpm. That is 2 hp less than Maruti 800 engine. Even though power of engine is less the chassis is made out of aluminium. This makes this car really light. So the top speed is increased as an advantage.
That apart, there are no compromises done in important systems like steering system, suspension system and transmission system [4+1]. The tyres are tubeless. Brakes used are drum type in front as well as rear, but I they are sufficient enough. No need of disk brakes.
There are various apt cost cutting techniques made by the engineers. The boot does not opens, single but powerful windscreen wiper, exterior parts of it are glued together, no power steering, single side view mirror, 3 nuts on the wheels instead of the statutory 4 nuts.
I friend who works for TATA MOTORS told me that the project manager of the Nano has done his graduation from MIT. I was surprised to know this. But I was even more surprised when he told me that the MIT is the Maharashtra Institute of Technology, Pune and not the American one. So it can be surely said that “the Peoples Car” is of Indians, made by the Indians, for the Indians.
Nano Forms nets Rs 15 crore to Tata Motors on 500,000 Bookings
State Bank cuts loan rates to 10 per cent.Within 15 days of opening the registration process for Nano, its Rs 1 lakh car, Tata Motors has sold nearly 500,000 application forms, raking in Rs 15 crore (at Rs 300 each). Distributors associated with the Nano bookings said most of the forms were likely to translate into bookings.
The sale of forms started on April 1, bookings began from April 9 and close on April 25.
State Bank of India (SBI), which has now decided to offer loans at 10 per cent during the first year, against 11.75 per cent before, has already issued over 100,000 forms, sources close to the development said. “Out of the total forms, one-fourth has been sold by SBI,” a person familiar with the bookings process told Business Standard.
On the number of bookings so far, a Tata Motors spokesperson described the response as “encouraging”. “The number of booking applications received will be announced after a few days of the closure of the booking process on April 25. All the booking applications will be subjected to a computerised random selection procedure. Within 60 days of the closure of bookings on April 25, Tata Motors will process and announce the allotment of 100,000 cars in the first phase of deliveries,” the spokesperson said in an e-mailed response. Delivery of the car will begin from July, the statement added.
SBI has been distributing the forms since April 5 through its 1,350 branches in more than 850 cities. In all, Tata Motors is using around 30,000 outlets, including group-owned retail chains Croma and Westside, in about 1,000 cities for distribution of forms.
Other financiers with whom Tata Motors has tied up include Tata Motor Finance, ICICI Bank, Axis Bank and Punjab National Bank. The forms are also sold through 218 dealers. In the first lot, each dealer was given 2,500 forms. Almost all of them exhausted these by the end of the third day.
Nano car loans carry a maximum tenure of seven years, against five years for most car loans. Interest rates for Nano are in line with other car loans now, which is estimated at 10-11 per cent. In addition, most banks have also started providing a finance facility for the booking amount of Rs 3,000.
The sale of forms started on April 1, bookings began from April 9 and close on April 25.
State Bank of India (SBI), which has now decided to offer loans at 10 per cent during the first year, against 11.75 per cent before, has already issued over 100,000 forms, sources close to the development said. “Out of the total forms, one-fourth has been sold by SBI,” a person familiar with the bookings process told Business Standard.
On the number of bookings so far, a Tata Motors spokesperson described the response as “encouraging”. “The number of booking applications received will be announced after a few days of the closure of the booking process on April 25. All the booking applications will be subjected to a computerised random selection procedure. Within 60 days of the closure of bookings on April 25, Tata Motors will process and announce the allotment of 100,000 cars in the first phase of deliveries,” the spokesperson said in an e-mailed response. Delivery of the car will begin from July, the statement added.
SBI has been distributing the forms since April 5 through its 1,350 branches in more than 850 cities. In all, Tata Motors is using around 30,000 outlets, including group-owned retail chains Croma and Westside, in about 1,000 cities for distribution of forms.
Other financiers with whom Tata Motors has tied up include Tata Motor Finance, ICICI Bank, Axis Bank and Punjab National Bank. The forms are also sold through 218 dealers. In the first lot, each dealer was given 2,500 forms. Almost all of them exhausted these by the end of the third day.
Nano car loans carry a maximum tenure of seven years, against five years for most car loans. Interest rates for Nano are in line with other car loans now, which is estimated at 10-11 per cent. In addition, most banks have also started providing a finance facility for the booking amount of Rs 3,000.
Big rush for Nano details but booking figures high's
Pune’s potential buyers set up a huge rush for the Nano, the small car, as booking started on Thursday, said dealers and officials at outlets giving booking forms.
It isn’t clear, however, how many booked the Nano. Most returned after taking details on the price structure and financial schemes.
“All our outlets in the city and those of Das Electricals and Sehgal Autoriders in Pimpri-Chinchwad area have seen a huge rush from the morning. Booking forms are being sold in no time. But most people are arriving without the documents to carry out an actual booking. And people want to know more about various options available for them before they book the car,” said Mandar Tamhane, director, Pratham Automobiles Pvt Ltd.
He said nearly all visitors bought booking forms though no count was made of the exact number of forms sold. “We think the number of bookings will go up in the coming days and we can provide the data once it is ascertained,” he said.
Pandit Automobile had a similar report. “We are getting an overwhelming response. Our entire team is busy attending to customers. We don’t have the exact number right now of how many forms we sold and how many bookings we made. The count can be made only after collecting all data,” said Mukund Kulkarni of Pandit Automobile.
Pratham Automobiles has made booking forms available at nearly 30 outlets at Baner, Kondhawa, Wagholi, Camp, Wakdewadi, Bhandarkar Road, Goldstar Motors (Dapodi), Salunkhe Vihar (Ebony), Chinchwad (Sehgal Autoriders), Chakan (Sehgal Autoriders), Akurdi (Sehgal Autoriders), Narayangaon (Sehgal Autoriders), Kothrud(Dombivali Nagari, Sahakari Bank Ltd.) and Das Electricals.
Forms are also available in retail shops like Croma and Westside. Tata Green Batteries, a brand of Tata AutoComp GY Batteries that supplied batteries to Nano, also joined the bandwagon of outlets providing booking forms.
The company announced on Thursday that booking forms would be available from Thursday at around 200 franchisee outlets across more than 60 cities in the country.
Ravi Gupta, CEO, Tata AutoComp GY Batteries Pvt Ltd, said, “To take our association with the Nano forward, we are offering our customers a special discount of 10 per cent on Tata Green Batteries, on purchase of booking forms for the Nano.”
The discount will be valid for three years from the date of purchase of the booking form from a Tata Green Battery outlet.
It isn’t clear, however, how many booked the Nano. Most returned after taking details on the price structure and financial schemes.
“All our outlets in the city and those of Das Electricals and Sehgal Autoriders in Pimpri-Chinchwad area have seen a huge rush from the morning. Booking forms are being sold in no time. But most people are arriving without the documents to carry out an actual booking. And people want to know more about various options available for them before they book the car,” said Mandar Tamhane, director, Pratham Automobiles Pvt Ltd.
He said nearly all visitors bought booking forms though no count was made of the exact number of forms sold. “We think the number of bookings will go up in the coming days and we can provide the data once it is ascertained,” he said.
Pandit Automobile had a similar report. “We are getting an overwhelming response. Our entire team is busy attending to customers. We don’t have the exact number right now of how many forms we sold and how many bookings we made. The count can be made only after collecting all data,” said Mukund Kulkarni of Pandit Automobile.
Pratham Automobiles has made booking forms available at nearly 30 outlets at Baner, Kondhawa, Wagholi, Camp, Wakdewadi, Bhandarkar Road, Goldstar Motors (Dapodi), Salunkhe Vihar (Ebony), Chinchwad (Sehgal Autoriders), Chakan (Sehgal Autoriders), Akurdi (Sehgal Autoriders), Narayangaon (Sehgal Autoriders), Kothrud(Dombivali Nagari, Sahakari Bank Ltd.) and Das Electricals.
Forms are also available in retail shops like Croma and Westside. Tata Green Batteries, a brand of Tata AutoComp GY Batteries that supplied batteries to Nano, also joined the bandwagon of outlets providing booking forms.
The company announced on Thursday that booking forms would be available from Thursday at around 200 franchisee outlets across more than 60 cities in the country.
Ravi Gupta, CEO, Tata AutoComp GY Batteries Pvt Ltd, said, “To take our association with the Nano forward, we are offering our customers a special discount of 10 per cent on Tata Green Batteries, on purchase of booking forms for the Nano.”
The discount will be valid for three years from the date of purchase of the booking form from a Tata Green Battery outlet.
High Booking For high end versions of Nano
Bookings of TATA Motors’ Nano began with nearly 80% of the buyers opting for the more expensive variants instead of the base level car which is priced at INR 0.123 million (ex showroom, Delhi). The trend is based on responses from dealers and banks that took bookings in Delhi, Mumbai, Pune, Bangalore, Chandigarh and Kolkata. The Nano CX cost INR 0.148 million and the top end LX INR 0.172 million.
Mr Rajiv Lohia of R D Motors in Kolkata said that "We have booked over 70 Nanos today and most of them were the CX and the LX versions.”
In Mumbai a senior executive of State Bank of India who was coordinating with one of the dealers added that “All the 12 buyers in this dealership opted for the top end variant and all of them made the down payment of INR 0.140 million upfront. None of them were financed.”
A TATA Motors dealer in Delhi said that “In Delhi, where the car is the cheapest amongst all the major cities, dealers said most of the buyers already own cars contrary to TATA Motors’ stated strategy of using the Nano to expand the market to buyers who didn't own cars. We see up to 85% to 90% of enquiries coming from people who already drive a small car. And 90% of them have booked the mid and top end variants. So far, we have received up to 80 applications with the application fee. Almost 100% of the buyers are self financed.”
(Sourced from Business Standards)
Mr Rajiv Lohia of R D Motors in Kolkata said that "We have booked over 70 Nanos today and most of them were the CX and the LX versions.”
In Mumbai a senior executive of State Bank of India who was coordinating with one of the dealers added that “All the 12 buyers in this dealership opted for the top end variant and all of them made the down payment of INR 0.140 million upfront. None of them were financed.”
A TATA Motors dealer in Delhi said that “In Delhi, where the car is the cheapest amongst all the major cities, dealers said most of the buyers already own cars contrary to TATA Motors’ stated strategy of using the Nano to expand the market to buyers who didn't own cars. We see up to 85% to 90% of enquiries coming from people who already drive a small car. And 90% of them have booked the mid and top end variants. So far, we have received up to 80 applications with the application fee. Almost 100% of the buyers are self financed.”
(Sourced from Business Standards)
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