India's Tata Motors to offer 4-yr warranty on Nano

MUMBAI | Thu Dec 9, 2010 2:06am EST

MUMBAI Dec 9 (Reuters) - India's Tata Motors (TAMO.BO) said on Thursday it would offer a four-year manufacturer's warranty on Nano cars and it would be extended to all existing customers of the vehicle.

Sales of the Nano, launched by Tata Motors to much fanfare in March 2009 as the world's cheapest car, sputtered to just 509 during the month of November, an 85 percent drop from a year earlier despite a surging Indian auto market.

Media reports of a handful of spontaneous fires, difficulty getting financing to purchase the cars and rising prices have hurt sales of the Nano, which was launched at $2,500 and targeted Indians wanting to upgrade from motorcycles. (Reporting by Sumeet Chatterjee; Editing by Aradhana Aravindan)

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Stockaccume wrote:
There has been a lot of risky short action in TTM in the past week and today, soon to end. Today as TTM reaches $27, it will begin its usual return to uptrend, probably starting tommorrow. Now below its 50 day moving average, it will be an excellent buy today, and all this week and next week. It will soon be at $35 to $38, probably by mid January. Per its usual amazing earnings announcements pre or post, TTM share price usually runs up quickly, causing shorts to cover quickly, thus causing the price to go up faster. In this case, look to TTM to rise 25% very quicky, and yes at times 8% per day as seen in the past. The news about the Nano is becoming very old news. A recent article in Wall Street Journal proves there have been as many fires in Ferrari’s this year as in Nano’s (5 in total) and only 1,000 Ferrari’s were sold this year compared to 100,000 Nano’s (Google article). The TTM great PR machine is at work again this week, once again bringing out the best of the great TTM news. The announcement an hour ago on the wires and all web news that Nano will have a 4 year 60K warranty for all Nano customers past, current and future will spur sale greatly. TTM Dealers are easily becoming streamlined to obtain loans for customers. Nano is only a very small division in huge TTM, India’s largest and most successful automaker in India’s history. Toyota’s new midsized addition is priced just a tiny .02% less than TTM’s midsized car, and TTM will lower its price in India to less than Toyota’s in days to come, easy for it to do as they are in India. TTM has a huge fleet and choice of vehicles all out pricing the competition. TTM is ready and healthy to do battle. They are smart. See the announcement a few hours ago on the introduction for sale this week of TTM’s 7 amazing passenger van of better quality and lower price than any competition. TTM’s Jaguar and R Rover are amazingly profitable, still growing exponentially, and now sold in China, and all over the east, as well as big sales in US and Europe, especially the UK. TTM Commercial vehicle sales are exploding with growth and profit everywhere including in Thailand, China and India. Buying TTM shares today and much more all this and next week. Stockaccumulator USA

Dec 09, 2010 2:18pm EST  --  Report as abuse
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