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‘Nano’ Fire mystery

+2
themask
mission
6 posters

Go down  Message [Page 1 of 1]

1‘Nano’ Fire mystery  Empty ‘Nano’ Fire mystery Sat Sep 10, 2011 5:28 pm

mission


Manager - Equity Analytics
Manager - Equity Analytics

Sunday, September 11, 2011

By Srian Obeyesekere
Ranjith Pandithage, Chairman and CEO of DIMO Plc, the authorised dealers for Tata vehicles in Sri Lanka, said that the cause of the recent fire to a Tata Nano taxi at Fort could not be determined. According to him, TATA’s car technicians who came from India to inspect the vehicle had stated that they could not attribute as to what had caused the fire to erupt to the passenger vehicle.
“The findings by the Indian experts who inspected the vehicle have stated that the cause is inconclusive. But they have, of course, stated that it is not the same cause as in the cases of the Nano cars that caught fire in India.,” the DIMO chairman told The Bottom Line last week.
He further commented that vehicles catching fire were nothing unusual. Even a luxury vehicle had caught fire in Narahenpita recently.
Pandithage added that sales of Tata Nano vehicles had not been affected as a result of the recent casualty.
“We have sold as many as 800 vehicles up to now,” he said adding that, in fact, an order had been placed for a further 100 from its Tata Nano agent in India.
“At the moment our Indian suppliers are not in a position to meet the supply demand because such is the demand for the Nano,” he said.
Tata Nano being used by the Budget Taxi Company ignited on September 2 in Sri Lanka’s Layden Nastian Mawatha around Fort area. There were no casualties, due to the fact that there were no persons in the Tata Nano at the time of the fire, and the car is now a complete write off.
Instances of Tata Nano bursting into flames have been reported in India from Gujarat, Lucknow, New Delhi and Mumbai. Sales figures for the Tata Nano have been hurting for a while now, with only 1,202 units being sold in India in August 2011.
In a year on year comparison, cumulative sales for the Tata Nano are pegged at 26,441 units for the year 2011 until August. This equates to a 17% reduction in sales figures as compared to the same period in 2010 wherein the company sold 31,882 Tata Nano units.

http://www.thebottomline.lk/2011/09/11/page2.html

2‘Nano’ Fire mystery  Empty Re: ‘Nano’ Fire mystery Sat Sep 10, 2011 6:45 pm

themask

themask
Manager - Equity Analytics
Manager - Equity Analytics

Typical Indian response.

3‘Nano’ Fire mystery  Empty Re: ‘Nano’ Fire mystery Sat Sep 10, 2011 7:26 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics

Look at the sales figures. Very unusual and should take into account ?

800 sold here + 100 more in line while they sold only 26,000 in that big place called India with no import taxes and freight expenses. .

What we can get from this news is that DIMO has sold 800/900 units. What could be the profit they kept ? 100 million or less? Their selling price is 1.0 million to 1.25 I think

4‘Nano’ Fire mystery  Empty Re: ‘Nano’ Fire mystery Sun Sep 11, 2011 2:59 pm

manojtharanga


Stock Analytic
Stock Analytic

Hikz,, I have no idea of why these people are buying this kind of vehicle (Three wheeler) by paying 1 million. No

5‘Nano’ Fire mystery  Empty Re: ‘Nano’ Fire mystery Mon Sep 12, 2011 2:11 am

Sud


Stock Analytic
Stock Analytic

Looks like 'Three Wheeler's are much more safer than these so called 'Nano's

6‘Nano’ Fire mystery  Empty Re: ‘Nano’ Fire mystery Mon Sep 12, 2011 3:08 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics

Guy, we should wait for confirmation on the fire issue to make sure it is technical or something else as it is not uncovered why yet.
There are others factors to consider regarding Nano.

Presume you know that there is a metered Taxi company which uses Nano and the Three Wheel drivers are not happy loosing business.
The Nano com[any it run by a big shot. Heard they recently had a picketing also against Nano. So Nano can come against some different kinds of stick.

The Nano cost is absurdly high in Sri lanka due to Taxes. I think it is around Rs400000 only in India. However , Nano has not made a sensation in Indian also yet.



Ps: From that article we can gather that DIMO sold so far 800 cars. Thats real piece of info i really got from there related to CSE. Even with 10% profit it is only abour 80-90 Million to DIMO. Not much but something additional





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