Financial Daily from THE HINDU group of publications
Thursday, Dec 19, 2002
Financial Daily from THE HINDU group of publications Thursday, Dec 19, 2002 |
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Cars Corporate - Announcements Marketing - New Products & Services The Indigo is Rs 4.35 lakh Our Bureau
Mr Ratan Tata, Chairman, Tata group, and Dr V. Sumantran, Executive Director, with the new Tata Indigo launched in Mumbai on Wednesday.
MUMBAI, Dec. 18 THE new mid-size car from Tata Engineering, the Indigo, will cost Rs 4.35 lakh (ex-showroom, Delhi) in its cheapest version, the base petrol model. Altogether, prices for the car's three petrol and two turbo-diesel variants would range from Rs 4.35 lakh to Rs 5.20 lakh, an official statement said today. The Indigo will appear at dealerships from Thursday itself and is backed by a 436-strong service network across 168 cities. According to the statement, in the petrol category, the Indigo GLE (manual steering, air-conditioned) is priced at Rs 4.35 lakh (ex-showroom, Delhi) and Rs 4.38 lakh (ex-showroom, Mumbai), the GLS (power steering, HVAC) costs Rs 4.60 lakh / Rs 4.64 lakh and the GLX (top end), Rs 4.95 lakh / Rs 4.99 lakh. In diesel category, the Indigo LS (power steering, HVAC) is priced at Rs 4.80 lakh / Rs 4.84 lakh, while the LX (top end) costs Rs 5.20 lakh / Rs 5.25 lakh in the two metros. Earlier at a press briefing on Monday at Tata Engineering's Pune facility, senior company officials had outlined the Indigo's overall market as 70,000 units per annum on the average, with the car being the tenth model and the company, the seventh manufacturer, in the `C' segment. On a sustained basis, the company looks to sell 1,200 Indigos per month. Alongside, the total market was seen growing to around 80,000-85,000 units in the first one year since launch. The top-selling models in the segment are Hyundai's Accent / Viva, Ford's Ikon, Hindustan Motors' Ambassador and Maruti's Esteem. Market prices for all players in the segment range on the average from Rs 4 lakh to Rs 7.5 lakh. In comparison, the Indigo's pricing disclosed today, ranges from Rs 4.35 lakh to Rs 5.20 lakh (ex-showroom, Delhi), marginally higher than the market's price for base versions, but significantly low at the top end. At today's commercial launch , Mr Ratan Tata, Chairman, Tata group, said, "The Tata Indigo is a significant milestone in the evolution of the passenger car business of the company and enables us to establish a presence in the segments constituting 70 per cent of the total domestic passenger vehicle market with one of the widest ranges available in the country. "The Indigo comes with several class-leading features and we are quite hopeful of the car gaining wide acceptance in the market."
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