SPEEDING UNDER HOT PURSUIT
Article Abstract:
The Indian car market increased by 3-4 percent against Zen sales growth of 55 percent to 61,000 in 1997-98. The other cars of Maruti Udyog Ltd (MUL) have posted minimal growth. Zen contributed Rs670 crore to the company's turnover of Rs8,454 crore in 1997-98. Zen is placed as a competitor for Daewoo Motors' d'Arts, Hyundai's Santro and Telco's Mint. The dealer margin on the Zen has been hiked by 40-50 percent. The new cars coming into the market will have similar features as Zen but will be Rs60,000-90,000 lesser than the price of Zen (Rs3.5 lakh). Fiat of Italy is re-launching its Uno, which is seen as a direct competitor to Zen. MU is working on improving the pick-up of the Zen. MUL's net worth was Rs1,535 crore in March 1997. It had netted a profit of Rs651 crore for 1997-98. Its Gurgaon facility can make 90,000 Zen cars per annum. In 1997-98, it produced 78,000 Zen cars, of which 18,000 were exported. It plans to commission new lines in 2 years to increase the production by 1 lakh. (rk)
Comment:
Reports 55% increase in sales growth of Zen in 1997-98
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1998
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TELCO'S INDICA - THREE'S A CROWD?
Article Abstract:
Tata Locomotive & Engineering Co(Telco) has announced the launch of its small car, Indica , in December 1998. Its new car plant at Pimpri, near Pune, will roll out Indica cars by the year end. It has a dealers' network of 40. A dozen of them have been set up specially for Indica. Seven such dealerships are set up under a 50:50 joint venture between Telco and Jardine Matheson of Hongkong. The company will launch the car in six models (three petrol, three diesel). The price will range from Rs2.5 lakh to Rs4 lakh. Both versions will have 1400 cc engines. Petrol engine can develop a power of 60 BHP. The company has invested Rs1700 crore for the car project. The car will be 99.95 percent indigenous.(um)
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1998
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THE GOING GETS REAL GOOD FOR SECOND-HAND CAR MARKET
Article Abstract:
The demand for second-hand cars in 1998 has increased to about 65 cars per month from about 40 cars per month in 1997. The prices of small second-hand cars has depreciated by 10-15 percent while that of premium cars has fallen by 20-25 percent in 1998. Maruti car models have the highest demand due to their better re-sale value. Many cars are being sent to the second-hand car market due to repossession by finance companies. (khr)
Comment:
India: Local demand for second-hand cars in 1998 increases to about 65 cars per month from about 40 cars per month in 1997
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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