Tata Motors managing director Ravi Kant says that higher costs may make it difficult to stick to the targeted price of Rs 1,00,000. Volkswagen launched it’s premium segment car ‘Passat ‘ in India.
Tata Motors is planning to unveil proposed Rs 1 lakh-car in the upcoming auto show in New Delhi in January 2008.Tata’s proposed Rs 1 lakh-car has generated a lot of attention as it will be the cheapest car ever to be sold in the global automobile industry. The 4 or 5-seater car will have four doors and will be powered by a 30 HP engine fitted in the rear.French auto maker Renault and its Japanese partner, Nissan Motor Co., are exploring the possibility of making a compact car for less than Rs1.25 lakh
Japan’s Toyota Motor Corp., South Korea’s Hyundai Motor Co. and Chinese auto maker Chery could also be looking to make ultra-cheap cars in India.
India is one of the the world’s fastest growing automobile markets, thanks to the India’s booming economy.