By IANS
New Delhi : The world’s cheapest car costing all of $2,500 would be unveiled by the $29-billion Tata group, India’s largest business house, at the eight-day Auto Expo show, beginning here Thursday morning.
Ratan Tata, the 70-year-old chairman of the Tata group who personally shaped the development of what he calls the “People’s Car”, will unveil the automobile that has created a global buzz among industry watchers and auto enthusiasts alike.
The actual launch of the yet-to-be-named car, which at Rs.100,000 will cost less than a branded DVD player of a BMW or a Mercedes, is, however, slated later in the year.
The launch is a part of the group’s plans to showcase as many as 17 models of cars, utility vehicles, trucks and busses, Tata officials said.
The officials did not wish to divulge any information about the new car that is generating a lot of buzz in the global automobile market, but industry sources said it sports a 650 cc engine and basic accessories to keep costs low.
In cars, the group will also unveil a new generation Indica that goes on sale in the latter part of 2008, as well as the Xenon XT (cross terrain), a lifestyle pickup also to be launched later in the year, company officials said.
In commercial vehicles, some of the new displays include a 28-seater bus and the air-conditioned low-entry bus from its joint venture with Marcopolo of Brazil, as well as refrigerated container truck and cargo panel van.
“The new generation Indica has been given a complete makeover and surprises with its stunning looks with a two box construction,” said a Tatas statement ahead of the Auto Expo.
“The new Indica will be launched in the latter part of 2008 and coexist with the present Indica range at a higher price point.”