Tata Motors should make a clean break with the past
Ola will reportedly take delivery of the first batch of 400 Neos from Jayem at the EV's launch
There have been discussions lately with regard to the future of Tata Nano, which was the brainchild of chairman emeritus Tata Sons, Ratan Tata
The Nano might have sold just 872 units so far this fiscal (down 65 per cent year on year), but the company seems not to be pulling the plug on the vehicle just yet. Sources say Tata Motors Ltd (TML) is contemplating an electric variant of the Nano; the EV might also be based on an upgraded version of the Nano, a car code-named Pelican. Nano sales hit an all-time low of 167 units in June this year, falling further from an all-time low of 174 units in March. Exports too have been sluggish, with only 75 units being exported so far this fiscal. April-June 2017 sales is down 80 per cent from Q1FY16, and 65 per cent from Q1FY17. The 'people's car' Nano has been largely associated with Tata Sons chairman emeritus Ratan Tata and has been under attack from the Cyrus Mistry camp. Former Tata Sons chairman Cyrus Mistry had pegged the cumulative losses arising from the Nano project at Rs 6,400 crore. Following market sentiments, the company was also going slow on upgrading the car to meet the ...
The company recently tested an electric variant of the Nano and it passed the tests
New emission norms could bump up costs of world's cheapest car, currently priced at Rs 1 lakh
Sales at all-time low since launch, to 174 units in March 2017; FY17 sales down 63% to 7,591 units
Mandatory safety requirements and added costs may inflate losses
Nano sales declined by more than three-fifths to 4,459 cars in the six months of the current financial year
Nano sales jumped 24% to close at 21,012 units compared to 16,901 units sold in 2014-15
Tata's dream project Nano came alive in January 2008 when it was launched at a 'promised' price tag of Rs 1 lakh
Ousted Tata Group chairman Cyrus Mistry alleged that Ratan Tata's stake in an EV company had made shutting down Nano difficult
Tata Nano's sales dipped 71% for June when sales of Tata compacts rose 64%
The Tata Nano is far from dead; in fact it has sold 2.5 lakh units in 5 years