Financial Daily from THE HINDU group of publications
Wednesday, Mar 13, 2002
Financial Daily from THE HINDU group of publications Wednesday, Mar 13, 2002 |
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Corporate
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New Projects Marketing - Channels and Franchises Tafe Access to take up more auto dealerships Our Bureau
CHENNAI, March 12 TAFE Access Ltd, a subsidiary of Tractors and Farm Equipment Ltd of the Chennai-based Amalgamations group, plans to take up more automobile dealerships. Currently, Tafe Access Ltd (TAL) has a dealership for Tata Engineering's multi-utility vehicles and cars in Coimbatore and one for Hyundai Motor India Ltd in Chennai. According to industry sources, Tafe Access is likely to take up a Tata Engineering dealership in Chennai. Company officials told presspersons informally here that TAL would like to consolidate its existing dealerships and gradually expand the network. Access Hyundai, TAL's dealership for Hyundai in Chennai, has moved to a bigger showroom. Access Hyundai was inaugurated in June 2000. The Access Hyundai showroom covers 3,600 sq ft. The workshop, in a different location, is spread over 24,000 sq ft and has 33 bays for servicing cars. Besides, it has an 18,000 sq ft space to park new cars. Access Hyundai sells on an average 120 cars a month. At the inauguration, Mr A.P. Gandhi, President, Hyundai Motor India Ltd, told the presspersons that Hyundai would introduce its sports utility vehicle, Terracan, before the end of the year. Initially, the sports utility vehicles (SUVs) would be brought in as a completely built unit (CBU) and as the market developed, the company could consider other options. It was likely to be priced in the Rs 18-20 lakh range, he said. The Terracan, which had a three-litre engine, would be imported from Korea. Mr Gandhi said Hyundai Motor India had commissioned a study to assess the market potential for an SUV. The initial report was encouraging, he said and expressed the hope that the company would be able to sell 100-150 SUVs in a year.
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