A few months back, Tata Motors announced that they would launch a Rs 1 lakh car i.e. Rs 100,000.00 or roughly $ 2500.00. This is by far, the cheapest car in the world. They are expected to start selling this car from Mid 2008 onwards.
Rs. 1 lakh car will supposedly be powered by a 700 cc Euro IV compliant engine, and would be a rear-wheel powered vehicle with engine at the back. With this car, India can expect to become a major global player in the automobile sector.
A lot of 2-wheeler owners are expected to switch over to this Rs 1 lakh car. Bajaj Auto, India’s 2-wheeler major, has already started feeling the heat. Their sales have dropped, and they are actively looking for a partner for making a foray into 4-wheeler space. Just a few days ago, Bajaj Auto announced that they are shutting down manufacturing at their Pune plant.
TVS motors - another 2-wheeler player - has decided to make a foray into 3-wheeler segment. Since 3-wheelers are mostly used by auto-rickshaws, it is widely believed that they may not be affected by the 1 lakh car.
We can expect to hear more from this 1 lakh car in the months to come.
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