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January 14, 2008 |
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TATA MOTORS: Unveils World's Cheapest Car Tata 'NANO' On Thursday, at the Ninth Auto Expo in New Delhi, Tata Motors Ltd unveiled the much-hyped world's cheapest car, which Tata Group Chairman Ratan N. Tata hopes will get India's masses off motorbikes and into cars. "We are happy to present the People's Car to India and we hope it brings the joy, pride and utility of owning a car to many families who need personal mobility,” Mr. Tata said at the unveiling ceremony. The four-door People's Car or the Tata 'NANO,' can seat four persons and measures 3.1 meters in length, 1.5 meters in width and stands 1.6 meters. The INR1-lakh price is for the dealers so the buyers will have to pay more for the taxes and profit margins , Rueters pointed out. However, the news agency continued, "it will still cost about half the cheapest car currently on the market, a 25-year old model from rival Maruti Suzuki." According Tata Motors, NANO was designed with a family in mind, hence the roomy passenger compartment with generous leg space and head room. The car's mono-volume design, with wheels at the corners and the powertrain at the rear, enables it to uniquely combine both space and manoeuvrability, which will set a new benchmark among small cars, the company said in a release. To address critics of the People's Car, Tata Motors pointed out to NANO's fuel-efficient engine, and asserted that the car meets safety norms and all foreign environmental criteria: * Fuel-efficient Engine The People's Car has a rear-wheel drive, all-aluminium, two- cylinder, 623 cc, 33 PS, multi point fuel injection petrol engine. This is the first time that a two-cylinder gasoline engine is being used in a car with single balancer shaft. The lean design strategy has helped minimize weight, which helps maximize performance per unit of energy consumed and delivers high fuel efficiency. Performance is controlled by a specially designed electronic engine management system. * Meets all Safety Requirements The People's Car's safety performance exceeds current regulatory requirements. With an all sheet-metal body, it has a strong passenger compartment, with safety features such as crumple zones, intrusion-resistant doors, seat belts, strong seats and anchorages, and the rear tailgate glass bonded to the body. Tubeless tyres further enhance safety. * Environment-Friendly The People's Car's tailpipe emission performance exceeds regulatory requirements. In terms of overall pollutants, it has a lower pollution level than two-wheelers being manufactured in India today. The high fuel efficiency also ensures that the car has low carbon dioxide emissions, thereby providing the twin benefits of an affordable transportation solution with a low carbon footprint. Tata, however, did not address worries of the car overwhelming the already clogged Indian roads. The media also noted that NANO's standard version has no radio, no passenger-side mirror, no air conditioning and only one windshield wiper. Tata NANO will be sold in India later this year and will be available in standard and deluxe versions. Both versions will offer a wide range of body colors and other accessories so that the car can be customized to an individual's preferences. Tata will focus on India for two to three years before considering exports of the Nano to Africa, Latin America and Southeast Asia, Reuters relates. About Tata Motors India's largest automobile company, Tata Motors Limited -- http://www.tatamotors.com/ -- is mainly engaged in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the Company. The Company's operating segments consists of Automotive and Others. In addition to its automotive products, it offers construction equipment, engineering solutions and software operations. Tata Motors has operations in Russia and the United Kingdom. * * * On Jan. 7, 2008, Standard & Poor's Ratings Services placed its 'BB+' long-term corporate credit ratings on India-based automaker Tata Motors Ltd. on CreditWatch with negative implications. At the same time, Standard & Poor's placed its 'BB+' foreign currency rating on all of Tata Motor's rated debt issues on CreditWatch with negative implications. As reported in the TCR-Asia-Pacific on Jan. 8, 2008, Moody's Investors Service placed the Ba1 Corporate Family Rating of Tata Motors Ltd on review for possible downgrade. |
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