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Cars within the reach of a common man
By Venkat Ramamurthy
For quite some time until recently, cars were considered to be a luxury in developing economies and poor nations.. The f our wheeler medium sized giants, which were the domain of the rich and the fortunate have now become the darling of the masses. This has been possible with the advent of cars such as Tata Nano, which has helped realize the dream of common people. The car has sleek features sporting a rear engine of 650 cc capacity and stylish looks. It has plush interiors and claims to have about 20% of extra space than Maruti -800, the small car ruling the Indian roads. Affordability The news of a cobbler in Mumbai who booked a ‘Nano’ explains the drive that the small car has given and the affordability factor. The likelihood of ‘Tata Nano’ to occupy middle class households and poor cousins of growing economies stand testimony to increased consumerism. The sincere approach of Ratan Tata , the head of the Tata group who dreamed of seeing his fellow countrymen traveling by cars has paid rich dividends if the statistics of booking is any indication. Many banks have joined the bandwagon to disburse loans for the purchase of ‘Nano’. About 1.4 million have visited Tata Motors’ showrooms and other allied outlets of the group that has already seen nearly 2.03 lakh bookings. Out of this, nearly 70% were financed, while the rest booked in cash. Types of Nano The car comes in three versions namely Nano Standard, Nano CX and the top-end Nano LX. Interestingly, the high end Nano LX, which belongs to the luxury class has seen 50% of the bookings compared to the Standard and the CX versions, which have seen bookings of 20% and 30% respectively. This establishes the customer confidence on a product that is yet to be proven, but accepted on the credentials and antecedents of a company associated with Indian consumers for generations. Though the company has been claiming that the base price of the car is Rs. 1 lakh ($ US 2000), the final price on road including taxes and accessories comes to nearly 1.8 lakhs for the higher end. The competition Any new product is bound to have competition and the same is true with this small car. The car which has been unveiled in almost all the car shows, it has to face stiff competition with companies like Bajaj and Mahindra & Mahindra. The latter too have an envious presence in the automobile market with Bajaj having a lion’s share in the two-wheeler industry and Mahindra – already a reckon with in the LMV (Light Motor Vehicle). Reports are doing rounds about the launch of ‘Yeni’ – a JV (Joint Venture) between Mahindra and Renault of France. There is an ongoing project between Nissan, Renault and Mahindra that would see their cars rolled out from a common manufacturing facility from Tamilnadu, India. With many competitions in the pipeline, the Tata group has definitely made an impressive beginning despite many odds and has emerged successful in delivering the goods. It remains to be seen after the real drive, whether the cruise is worth the dime as also the competition factor that needs to be considered.
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Contributor's Note
As an expert author of ezinearticles, I have earlier written on technical profile of Tata Nano in ezinearticles, which received many hits.
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This intel was contributed by murthy
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May, 2012
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