AppId is over the quota
AppId is over the quota
By AutoObserver Staff September 28, 2011
A court in India ruled this week that India’s Tata Motors Ltd. cannot own land leased in the country’s West Bengal region that it leased with the intention of building a new assembly plant for its Nano subcompact car, often cited as the world’s cheapest automobile. After nearly completing the factory, Tata gave up on the site in late 2008 after aggressive protesting from nearby farmers about the company’s land acquisitions. Tata instead sited the assembly plant in another portion of India.
Tata, which also owns the Jaguar and Land Rover brands, was forced to delay the launch of the Nano because of the plant relocation and Nano sales have been on a rollercoaster trajectory ever since, while stock in the company itself also has recently been in sharp decline. Tata sold just 1,202 Nanos in August, reports said, an 85-percent decline from August, 2010. In India, the Nano currently sells for the equivalent of about $2,800.
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