In the post globalized era where India is looking at growth rates of more than 8%, one of the main beneficiaries of India’s growth story is Automobile Industry. Termed as“Industry of Industries” . Automobile industry has been one of the indicators of a country’s economic prosperity, as major population of Indian economy is turning out as middle class society. Prior to the 1991 liberalization, auto industry in India was controlled and licensed by the government. Post 1991, the industry has grown at an average rate of 17%. Currently contributing to around 5% of the GDP, this is expected to rise to 10% of GDP. TATA NANO: Overview
TATA Nano is the cheapest car in the world. It is manufactured by TATA Motor Limited, the largest automobile company in India. Its chairman, Mr. Ratan Tata envisions that Tata Nano to become a “People’s car” which is affordable by almost everybody. Tata Nano is manufactured totally in India. Its assembled in its two factories atPantnagar and at Uttarakhand and also have a mother plant at Sanand Gujarat.
What makes Nano so cheap? It has small and light engine, a 623cc two-cylinder petrol engine made of aluminum. Factors that contribute towards the weight reduction are the usage of hollow steering wheel shafts, plastic body panels and smaller tubeless tires. As a result of these measures, Tata Nano weighs only about 590kg. Lesser weight and fewer parts mean less raw material and lower cost for Tata Nano. Vision and Innovation are successfully implemented without compromising the safety and environmental compliance.
Analysis of Market Offerings:- 1. Markets across the Countries:- First targeted market was the low income Indian families and lower middle class population. Now its expanding its market in other countries such as Malaysia, the rest of Asia, Europe, Africa and South America.The car was in 78-th Geneva Motor Show 2008. This helped to make the image of car in other countries than the