World’s Cheapest Car Unveiled
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January 10th, 2008 by GreenLight AdvisorTwitter It!
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What exactly does a $2,500 car mean for India, and for that matter, the world? How long before these cars are exported. Ratan Tata has vindicated himself of his critics, and launched a revolution for the future of car ownership and the global auto industry. Imagine, 8 years ago, Tata Motors (TTM:nyse), India’s largest manufacturer of light CV trucks and buses was not even in the passenger car business…expectations are for the company to move approximately 1 million of this model annually to start.
The launch of the Nano lays the platform for India to emerge as the hub for frugal engineering, the ability of Indian engineers to produce more with less resources. Tata’s incumbent best-seller, Indica, which was developed in India for $350-million, would have cost three times as much to develop in Detroit.
India automaker unveils the world’s cheapest car,
Reuters Published: Thursday, January 10, 2008
Reuters
NEW DELHI — India’s Tata Motors Ltd unveiled the world’s cheapest car on Thursday, bringing car ownership closer to millions of consumers in emerging markets.
The 4-seater Nano, with an engine around 625 cc, will have a dealer price of 100,000 rupees (US$2,500), and will go on sale later this year.
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Tags: 8 Years, Abc News, Automaker, Best Seller, Business Expectations, Car Business, Car Ownership, Desc, Emerging Market, Emerging Markets, Global Auto Industry, Incumbent, India, Indian Engineers, Information, Launch, Markets, Nano, New Delhi India, Nyse, Passenger Car, Reuters, risk, Rupees, Tata, Tata Motors Ltd, Ttm, VideoPosted in Emerging Markets, Markets, US Stocks |
