Tata Motors has asked nearly 55 of its vendors to set up their manufacturing units in the land allotted for the mother plant. It has allotted land to its different vendors that supply auto components for its ultra-cheap model, Tata Nano.
Tata Motors has been allotted nearly 1100 acres of land by the Gujarat government at Sanand near Ahmedabad along National Highway 8. It readily connects the Tata Nano mother plant to Gujarat’s main ports like Kandla, Mundra and Dholera.
“Land has been allotted to vendors on May 5 and we have been asked by Tata Motors to start work immediately. Most vendors are now talking to banks and financial institutions for funds required to set up their units. Tata Motors needs to generate volumes at the earliest as it can now produce only 50,000 Nanos at its Pantnagar facility,” said a vendor, who is supplying the Nano chassis.
Although there is no official word from Tata Motors regarding the matter but according to one of the official Tata Motors spokesperson, each vendor has been allotted a definite timeline to set up its unit so that the production can be started in full swing at the earliest.
Submitted by Rish
Showing posts with label tata nano news. Show all posts
Showing posts with label tata nano news. Show all posts
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
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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