Tags:
Journalism of Courage
JANUARY 12: Telco today announced its foray into the luxury segment of the passenger car market with the 1900 cc Magna,’scheduled to be rolled out over the next one year, Tata Group chairman Ratan Tata said.
The car, to be available in both petrol and diesel versions, would be the flagship car of the Telco portfolio. To be priced between the Mitsubishi Lancer and the Mercedes E-class, the car would also be available in higher powered engine versions, Tata told newspersons here today.
“We are studying several variations and innovations on the car and will launch the vehicle once we are satisfied with its performance and we feel it can meet all our expectations.” The car, he said, would be longer and more comfortable than the Astra, Lancer and Baleno. Its size would be closest to the Mercedes E-class, he added.
The Magna is a rear-wheel drive Sedan, powered by a two-litre engine. The car has been developed with different trim levels. The company, he said, is also studying the feasibility of introducing a mid-size offering on the Indica platform. The studies are on but we cannot set a definite time frame for the launch.
Besides, the company also unveiled a two-seater Concept Sports car on the Indica platform-Aria developed along with idea of Italy, the car has been conceived with a 140hp, four -cylinder engine and a maximum speed of 225km/hr. The launch date for the car has not been finalised as yet. “We will be seeking customer feedback on the car and if we feel there is enough demand for the car, we would introduce it in both domestic and export markets”.
The car, displayed at the ongoing Auto Expo 2000, is without a rooftop, with a 16 inch alloy wheel, low profile tyres and roll-over bars for driver and passenger.
The company also announced the introduction of a Euro-II compliant diesel Indica in all three existing varaints and would have all the features of the existing variants. He further stated that indica prices have been revised upwards beginning this week. However, Mr Tata refused to divulge details.
Tata also announced that its passenger car division would not be hive off into a separate company. “Under the restructuring exercise, all the vehicle manufacturing divisions, including the passenger car division, have been separated as an independent business unit. That is how it will remain… there are no plans to convert it into a separate company,” Tata said.
The passenger car division will be independent and will be focussed as a separate entity. But all the divisions will remain under the TELCO umbrella.
Tata stated that the company has already sold close to 40,000 units of Indica and expects to achieve break-even with a sales figure of 80,000 units. “We have targetted to sell 60,000 units in 1999-2000 and 90,000 units in the next fiscal… our intentions are to make profits this year.”
