Mar 19, 2009

SBI plans for higher down payment for Nano

With State Bank of India (SBI) planning to finance around 70% of the total cost of the Nano, you can now drive home the car for just Rs 25,000 to Rs 30,000!

However, both the Bank and Tata Motors spokespersons refused to divulge any details of the same before the launch date of Nano that is March 23.

Sources further say the bank will come up with more stringent norms and demand higher down payment for Nano considering that the vehicle will generate robust demand. Tata Motors have already received around 40 million queries on the Nano on its websites so far.

Though there is no clear indication from the company about the allotment of the vehicle, a Delhi-based dealer says that the company will fix the number of vehicles per state and per dealer, as the initial numbers are very low, to meet the demand across different parts of the country.

The entry-level model of Tata Nano will cost Rs 1 lakh (excluding freight and value-added tax) and the top-end model with air conditioner will be costlier by Rs 25,000 to Rs 30,000.


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Mar 9, 2009

Skoda to launch three Fabia variants

Skoda Auto India, part of Europe’s largest-carmaker Volkswagen, is set to launch three new variants of its flagship hatchback Fabia, including a new sports model this year according to a top company executive.
Fabia Sportline will be the new sports car, which will have newly-designed interiors and alloy wheels. It will be powered by a1800-cc powerful engine to cater to the growing demand for sports vehicles. The existing Fabia range is available with 1200-1600 cc engine capacity.

Skoda the well known maker of premium cars is among the very few auto makers with increasing sales despite the slump in the domestic market. The total auto sales have declined due to the financial meltdown and it is said that the sales grew 22% to 11,309 cars in the April-December period.

Skoda Fabia is however its largest selling brand and the company is reported to have sold over 7,000 cars in 2008, the first year of its launch. Fabia is assembled at Skoda’s Aurangabad facility. Skoda will also announce the next generation models of sedans namely Superb and Laura in the next few months.

Source: News

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