One of the many economic trials suffered by Americans during 2008 was runaway oil prices. Remember paying nearly $4.oo per gallon for gasoline? Those days may be back, with a vengeance, sooner rather than later. My latest book, Bankruptcy of Our Nation, highlights the global energy crisis and America’s ever-growing dependence on foreign oil. In it I explain in great detail how our poor energy policies will eventually lead to massive energy price increases for every American.
Now an innovative mini-car from India may leave Americans struggling to afford fuel for their SUVs.
China has experienced staggering economic growth, has an insatiable demand for natural resources and, most alarming, wields an enormous population that desperately seeks to emulate the western lifestyle of over-consumption. This is an unfortunate combination for a world community running low on many vital natural resources and with no firm contingency plans.
Despite the economic slowdown, China still leads in the world’s fastest-growing automobile market. In 2008 the country produced an astonishing 14,000 new cars - per day.
Now another up-and-coming global power, India, is making news in the global automobile market. The country boasts the second fastest-growing automobile market in the world, and has been aggressively promoting car ownership among its citizens, seeking to quadruple automotive sales by 2016.
The primary obstacle to getting cars onto Indian roads has been price, especially for India’s poorer population. Last week this obstacle was all but demolished when Indian automaker, Tata Motors, announced plans to begin mass production of the Tata Nano. According to the Guinness Book of Records, the Nano is the world’s least expensive car retailing for an astonishing low base price of $2000 USD. That’s right, the Nano will sell for less than the cost of many extras on American vehicles.
Tata Motors made headlines in 2008 when it publicly acquired the luxury Jaguar and Land Rover brands from Ford Motor Company. The buy-out smacked of irony, considering Britain’s formidable colonization of India in centuries past. The world is, indeed, getting flatter with each passing year.
While price breakthroughs may be good for India, they are far from good news for western nations. Why? Because now many of India’s 1.1 billion citizens will soon be able to purchase their first automobile. This means demand for the world’s shrinking oil supply will increase exponentially as the Tata Nano, and similar vehicles certain to come along in the future, begin filling the streets of this emerging nation.
To say that western expectations of energy supplies have been unrealistic and, quite frankly, irresponsible would be an understatement. Apparently it will take severe constraints of energy supplies in the west before decisive action is taken. And then it might be too late.
Showing posts with label nano booking news. Show all posts
Showing posts with label nano booking news. Show all posts
300,000 have visited Tata showrooms in last 10 days
Tata Motors began taking orders for its new Nano car on April 1st. It sells for $2050, no joke. Over 300,000 Indian have visited Tata showrooms in the last 10 days. For most buyers the vehicle is an upgrade from a motorcycle or motorized scooter.
Nano production lines are expected to be backlogged for a while and the automaker will only accept 100,00o orders for now. The rest of the customers may have to wait several quarters for their wheels.
Nano production lines are expected to be backlogged for a while and the automaker will only accept 100,00o orders for now. The rest of the customers may have to wait several quarters for their wheels.
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.
Big Boost to Tata by Nano bookings
SAN FRANCISCO -- Tata Motors Ltd. shares rallied 15% Thursday on a report the Indian company's Nano minicar is seeing a surge in interest on its first day for bookings in its home market.
Tata's U.S.-listed stock pulled back from its highs but closed up $1.00 at $7.64 in New York. The shares have rallied almost 72% since the beginning of the year.
The company has sold more than 51,000 order forms for the world's cheapest car, according to the Economic Times. The Nano, priced starting at less than $2,500, is slated to be delivered in July in phases to the first 100,000 customers chosen by lottery.
The Nano's launch was originally slated for the fourth quarter of 2008 but was pushed back after the company was forced to abandon a manufacturing site in West Bengal due to violent protests from farmer groups and a political party.
Tata on Wednesday stated "categorically" there are no current production problems to stand in the way of the car reaching its delivery goal this summer.
Tata in the past month has partnered with 19 banks that will fund purchases at competitive rates and ensure that any sales shortfall won't be because of a lack of available financing.
The credit crisis in the U.S. has made it difficult for customers to qualify for loans, pressuring an already fragile U.S. auto industry that could see the bankruptcy of General Motors Corp.
The Nano's arrival comes at a difficult time for Tata, India's biggest carmaker, with demand for its trucks and utility vehicles at home, and for the Jaguar-Land Rover division globally, falling hard in the face of the historic industry downturn.Tata swung to an unexpected loss in quarter ended Dec. 31, and it's not looking much better this quarter, given that sales dropped 26% in the first two months of the year.Tata, which bought Jaguar and Land Rover from Ford Motor Co.
last year, is planning to export the Nano to Europe and the United States, with a much higher price tag, over the next few years.Shawn Langlois is a reporter for MarketWatch in San Francisco.
Source: marketwatch.com
Tata's U.S.-listed stock pulled back from its highs but closed up $1.00 at $7.64 in New York. The shares have rallied almost 72% since the beginning of the year.
The company has sold more than 51,000 order forms for the world's cheapest car, according to the Economic Times. The Nano, priced starting at less than $2,500, is slated to be delivered in July in phases to the first 100,000 customers chosen by lottery.
The Nano's launch was originally slated for the fourth quarter of 2008 but was pushed back after the company was forced to abandon a manufacturing site in West Bengal due to violent protests from farmer groups and a political party.
Tata on Wednesday stated "categorically" there are no current production problems to stand in the way of the car reaching its delivery goal this summer.
Tata in the past month has partnered with 19 banks that will fund purchases at competitive rates and ensure that any sales shortfall won't be because of a lack of available financing.
The credit crisis in the U.S. has made it difficult for customers to qualify for loans, pressuring an already fragile U.S. auto industry that could see the bankruptcy of General Motors Corp.
The Nano's arrival comes at a difficult time for Tata, India's biggest carmaker, with demand for its trucks and utility vehicles at home, and for the Jaguar-Land Rover division globally, falling hard in the face of the historic industry downturn.Tata swung to an unexpected loss in quarter ended Dec. 31, and it's not looking much better this quarter, given that sales dropped 26% in the first two months of the year.Tata, which bought Jaguar and Land Rover from Ford Motor Co.
last year, is planning to export the Nano to Europe and the United States, with a much higher price tag, over the next few years.Shawn Langlois is a reporter for MarketWatch in San Francisco.
Source: marketwatch.com
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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