Auto India, Car India

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Chrysler has signed a deal with Tata Motors to produce electric vehicles in the US, started in late 2008 or early 2009.

In deal, Tata will provide its electric version of compact Ace pickup to Chrysler’s GEM (Global Electric Motors) unit. The product referred to as “neighborhood electric vehicle” having the battery powered Ace would not be street legal in the US, report suggested.
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Tatas has cancelled the decision of having multiple Nano assembling units. Tatas spokesperson said: “As of now, the decision is to produce the Nano only at Singur.”

He further added, “Initially, we will make 2.5 lakh Nanos yearly.” Out of 55 ancillary units, around 20 component manufacturing units have already started operations in Singur.
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SEOUL, South Korea’s Hyundai Motor is planning to produce a low-cost mini car in India by 2011. This is the competition with locally produced vehicles such as Tata Motor’s New Nano car, a company executive said Wednesday.

The mini car, low-cost and fuel-efficient model will be priced between 3.5 million Korean won and 5 million won (US$3,700; euro2,500), Cho Won-suk, executive vice president of Hyundai Motor’s Advanced Technology Center, told Dow Jones Newswires at an industry event.
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“Maruti Udyog Ltd” Country’s one of the largest carmaker Industry has posted Q3 net profit of Rs 467 crore in December as compare to Rs 376.4 crore for the same period a year ago.
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The world’s largest automaker Industry “Toyota” planning to make India a small master station for car export. On Monday, Toyota president Katsuaki Watanabe called on Prime Minister Manmohan Singh and Indian Commerce and Industry Minister Kamal Nath and spoke about their company’s plans for the market. After meeting, Kamal Nath said: “He met me and informed me that Toyota would be doubling its investments in India and would also make
small cars in the market that would be exported to other countries as well.”
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After making and launching the world’s cheapest car, Tata Motors is exploring the possibility of providing direct loads for the Nano buyers through sources like Tata Motor Finance (TMFL), a wholly owned subsidiary, or existing financing channels.

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Tata Motors is planning to launch the electric version of its “Ace” mini-truck in US in collaboration with GEM (Global Electric Motorcars) which is electric vehicles unit of Chrysler. Hindu Businessline reported that the contract for the same is already signed up.

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In the view of recent US Fed rate cut of 75 basis points due to slow economy growth in USA, banks and people are speculating that RBI with also cut some rates in India as well. If that happens, car loan rates in India are expected to come down.

So if you are planning to buy a car through car loan, I think you should wait till next Tuesday when quarterly monetary policy is announced by RBI.

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Audi, the German car manufacturer has opened up a huge Audi car showroom in Gurgaon. The showroom is spread in a huge 1270 sq. mt. area showcasing all the Audi cars currently available in India. In total, 14 Audi cars are displayed there.

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Suzuki Motor Corporation has shown its new upcoming car called “A-Star” at Auto Expo 2008 in New Delhi. This 5-door hatch which will come with 1.0 liter engine and will be manufactured in India. Currently the car is in concept phase as shown in the Auto Expo. Production version of A-Star car will be Euro 5 complaint.

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