Piaggio to launch 2 verions of NT3: a three-seater car in India

Piaggio Vehicles has been the pioneer of 3-wheeler goods transportation in India since 1999 and today is among the top in its category. With global standards in vehicle performance and customer service, it has revolutionized the 3 wheeler cargo segment in India. This well established company is all set to bring its new car named NT3 a three-seater car. The 2.4 meter long car is expected to have a 200 cc and a 300 cc engine option, in addition to a hybrid and electric variant as well.

The NT3 car is expected to have a maximum speed of 80 km p/h with the 300 cc engine and 60 km p/h with the 200 cc engine. The car is expected by 2012.

These cars are developed for markets like India, Vietnam and some areas of South-East Asia because as informed by Ravi Chopra, chairman and managing director, Piaggio Vehicles, said, “The demand for small cars will be large in the densely populated countries and cities”.

Company is planning to put in good money as investment in Vietnam & India to expand manufacturing and sales activities in these regions. In India, the company will be putting in Euro 90 million to finance growth in both the commercial vehicles and the two-wheeler businesses. The company will be launching Vespa brand of scooter in the first quarter of 2012.

With an aggregate market share of 41% in the three wheeler industry and 64% in the three wheeler cargo segment in 2010, Piaggio has firmly established its position as an undisputed leader in the three wheeler domestic market. Today the company offers a range of passenger and cargo vehicles already and with NT3 company is hoping to increase its market share and sales in coming future.

Tata Motors seeks new sites to make Nano

TATA Motors sought new sites for its cheap car plant yesterday after protests forced it to suspend work on the project, a crisis seen as a big blow to India's effort to attract investors.

The company, which became globally known when it bought British luxury cars Jaguar and Land Rover earlier this year, hoped to have its cut-priced "Nano" model rolling off the production lines and in showrooms by October.

But analysts say the launch of the groundbreaking vehicle, conceived by Tata chief Ratan Tata to get poor Indians off motorcycles, would be delayed by months if the assembly line was moved to other Tata factories in India.

A Tata statement late on Tuesday fell short of declaring the company was exiting Marxist-ruled West Bengal state in eastern India for good. But it would be "highly optimistic to think of a (swift) return to normalcy at the Singur site", a senior Tata official said.

The announcement shocked business leaders, who warned it would hurt India's image as an emerging economic superpower and viable investment destination.

Investor confidence would be "completely shattered", said Venu Srinivasan, chairman of leading Indian two-wheel seller TVS Motor.

India's most powerful businessman, Mukesh Ambani, chairman of Reliance Industries, has said the protests are "counter-productive for the country's economic growth, its global image as well as our ability to attract investments from across the world".

Hero Honda hikes 100cc bike prices by upto Rs 850

Two-wheeler market leader Hero Honda on Thursday, August 7 increased the prices of its 100cc bikes by up to Rs 850 on account of rising input costs, reports agency sources.

The company, however, maintained the price hike has been restricted only to its 100cc bikes as of now.

Rising input costs have forced bike makers to hike prices even though market conditions remain challenging due to high interest rates and tight retail financing.