INDICA BOOKINGS IN FEVERISH PITCH

Article Abstract:

The widespread demand for bookings for Tata Engineering and Locomotive Company's new car, Indica, has led to intense competition among financiers for financing bookings. Financiers expect 50,000 to 70,000 applications for bookings though Telco has offered only 10,000 allotments. ANZ Grindlays, Tata Finance,ICICI, HDFC Bank, HongKong Bank, Saraswat Bank, Sundaram Finance and Global Trust Bank have come out with booking schemes. ICICI offers booking finance at the rate of Rs3,999 on all models except the deluxe model. Citibank offers its cardholders a scheme which allows for bookings without paying any amount. The interest rates for the schemes range between 15.5 percent to 16.5 percent. Telco is likely to earn Rs2,000 crore through bookings. (um)(vr)

Automobile Rent & Lease, Passenger Car Rental and Leasing

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CUMMINS PLANS TO REV UP INDICA ENGINES

Article Abstract:

Cummins Engine Company (CEC) of the US, the largest producer of diesel engines in the world, has expressed its hopes to supply engines for Tata's small car, Indica. CEC supplies diesel engines for Tata Engineering and Locomotive Company's (Telco) commercial vehicles. CEC hopes to supply engines for the entire range of Telco's vehicles in the near future. It is now holding talks with Telco for supplying engines to the light commercial vehicles. Though CEC does not manufacture small diesel engines now, it is working to develop one. Once it is done it will look forward to supply them to Tata Indica. (um) (psr)

Use of services, Contracts & orders received, Other Engine Equipment Manufacturing, Automotive Diesel Engines, Cummins Engine Company Inc., CUM

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INITIAL OPENING DRAWS UP 24,000 BOOKINGS

Article Abstract:

The bookings for Tata Engineering and Locomotive Company's small car, Indica has reached 24,000 units during the first three days of bookings. Telco expects to get 75,000 bookings within the closing date of bookings. Out of 24,000 bookings, 75 percent of the bookings are for the diesel air-conditioned version of Indica priced at Rs2.95 lakh while 15 percent is for the Rs2.85 lakh diesel non AC version. Of the balance, around five percent is for petrol version and the balance five percent is for the super deluxe version. (um)(vr)

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