Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.

Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

Submit Post
සිංහල පරිවර්තනය

Display results as :


Rechercher Advanced Search

Latest topics

» Marriott International to open its first Sri Lankan hotel in 2014
by mahasona Today at 12:09 am

» AEL Declines to 20.9
by wiser Yesterday at 9:45 pm

» MACD A Powerful Tool to Predict Market Trends
by wiser Yesterday at 7:37 pm

by samaritan Yesterday at 7:20 pm

» Market Sell Off
by samaritan Yesterday at 2:22 pm

» No confidence motion and CSE
by samaritan Yesterday at 11:19 am

by Ran49 Yesterday at 7:39 am

» Wiser's TA Chart Room
by EquityChamp Mon Mar 19, 2018 3:23 pm

» HVA March reports
by Yazaar92 Fri Mar 16, 2018 3:32 pm

» Earn 1.5% daily interest.. guaranteed..
by Uaecoindubai Fri Mar 16, 2018 5:19 am

» At least 30 % return within 30 days
by Theekshana Thu Mar 15, 2018 9:28 pm

» Stocks we can buy at current situation
by Harry82 Thu Mar 15, 2018 5:55 am

» Sri Lanka Equity Research
by Mohamed Siraj Thu Mar 15, 2018 12:13 am

» A Humble Request to Fill Up an Online Survey for Research Purpose
by Mohamed Siraj Thu Mar 15, 2018 12:06 am

» CDB is Silent killer in Banks.
by Harry82 Wed Mar 14, 2018 7:55 pm

» CDB - Jounery Begun..
by ranferdi Wed Mar 14, 2018 1:07 pm

» What is the situation of Adam Group
by ranferdi Tue Mar 13, 2018 2:58 pm

by sharemarket Tue Mar 13, 2018 1:43 pm

» Egg Supply of sri lanka. (NEWS)
by suku502 Tue Mar 13, 2018 1:38 pm

» REEF getting GREEN
by Ran49 Mon Mar 12, 2018 9:45 pm

Forum Disclaimer

The information contained in this forum have been submitted by third parties directly without any verification by us. The information available in this forum is not researched or purported to be complete description of the subject matter referred to herein. We do not under any circumstances whatsoever guarantee the accuracy and completeness information contained herein. its blogs, forums, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not in any way be responsible or liable for loss or damage which any person or party may sustain or incur by relying on the contents of this report and acting directly or indirectly in any manner whatsoever.

Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility, its blogs, forums, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. The information on this website is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.

You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market & Forum Help » Tata takes Nano car abroad, with Sri Lanka first

Tata takes Nano car abroad, with Sri Lanka first

Go down  Message [Page 1 of 1]


Associate Director - Equity Analytics
Associate Director - Equity Analytics
Tata takes Nano car abroad, with Sri Lanka first
May 29, 2011 (AFP) - India's Tata Nano, billed as the world's cheapest car, began its first export sales Sunday by entering the Sri Lankan market -- but with a price tag nearly three times what it is at home.

The cheapest no-frills Nano costs 925,000 rupees ($8,486) in Sri Lanka, compared to about $3,000 for a basic model in India.
"We have started accepting bookings from today for the first 500 cars imported to Sri Lanka," an official of Dimo, the Colombo agent for Tata, said Sunday.

He said the price in Sri Lanka was due to high import duties and local sales taxes.

The Tata Nano generated worldwide interest when it was launched in 2008, and the company said that plans for international sales were now in place.

"We have already formulated plans for its introduction in several countries, to be implemented over the next few years," P.M. Telang, Tata's managing director, said in a statement.

Sri Lanka reduced car duties by almost half in June last year, but then raised taxes in April to stem a flood of car imports.
When the Nano was launched it was expected to create a vast new market segment in India, a nation of 1.2 billion people, but reality has fallen short of the hopes.

Analysts attributed the Nano's low sales to concerns over safety, lack of cheap financing and operational hiccups after production shifted to a new plant.

Last year, Tata was forced to offer free safety upgrades after around half a dozen of the cars caught fire.


Associate Director - Equity Analytics
Associate Director - Equity Analytics
Sri Lankan auto distributor Diesel and Motor Engineering Limited (DIMO) will capitalise on the launch of the Tata Nano to capture the number one spot in the passenger vehicle market, said a senior official.

"With the Nano, before 10 years we will be the leader in the passenger vehicle sector," said Ranjith Pandithage, chief executive and managing director of DIMO, agents for Tata Motors of India, German luxury brand Mercedes-Benz, and Chrystler Motors of America.

Tata holds a 60 percent share of the Sri Lankan commercial vehicle market and 42 percent overall market share.

"We dominate the market in the commercial vehicle sector," said Pandithage.

While over 100,000 Nanos have been sold since its launch in 2009 in India, its home market, Sri Lanka became the first export market for the Nano with its recent launch in the country.

"Sri Lanka is our first and most important export market," said Carl-Peter Forster, managing director and group chief executive of Tata Motors.

Tata has also signalled plans to launch the Nano in markets such as Indonesia and Thailand where it hopes to have a long term presence.

The Nano is marketed as a cleverly engineered passenger vehicle appealing to the cost conscious consumer.

"The Nano offer very low operating cost to the user," said Forster.

"With the economy flourishing there will be more need for commercial and passenger vehicles."

The Nano offers 23.6km per liter in fuel efficiency, certified by the Automotive Research Association of India under mandated test conditions.

The car is priced at 925,000 rupees for the standard model including import duties of 110 percent on CIF or landing cost, the Tata Nano CX at 999,000, and Tata Nano LX version at 1.1 million rupees.

An initial batch of 500 units of the Nano have been shipped to Sri Lanka and are open for bookings.

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum