Nissan Introduces Terrano SUV in India

October 10, 2013

Nissan_Terrano_SUVNew Delhi, Oct 10: Nissan Motor Co. 7201.TO +2.57% Wednesday introduced its first compact sport-utility vehicle in India to tap demand for such products and challenge existing players like Ford Motor Co. F +0.73% , Renault S.A. RNO.FR +3.70% and Mahindra & Mahindra Ltd. 500520.BY +1.05%

The Japanese auto maker said it has received about 6,000 customer orders for the Terrano since the vehicle was unveiled in late August. The Terrano is based on the Duster SUV of Renault, with which Nissan has a global alliance. It is produced at a joint plant of Renault and Nissan on the outskirts of Chennai city.

The Duster—which is also made at the same plant—is the most-successful vehicle for Renault in India with sales of more than 60,000 units since its introduction in July last year.

The Terrano is offered in seven versions with the option of either a 1.6-liter gasoline or a 1.5-liter diesel engine. The diesel engine is further offered in two options of 85 horsepower and 104 horsepower.

Prices start at 959,999 rupees ($15,500) at dealers in New Delhi, extending to about 1.24 million rupees for the top-end version.

The Duster starts at 7,99,000 rupees.

"Terrano is an important product for us and will set the pace for future product launches slated for 2014," said Kenichiro Yomura, president of Nissan's India unit. He didn't say which are the other vehicles that Nissan plans to introduce in India.

SUV sales in India grew 52% in the fiscal year ended March 31, compared with a 6.7% decline in the sales of cars.

But, demand has waned since companies raised prices from earlier this year to pass on a three-percentage-point increase in factory tax on locally assembled SUVs to 30%. Rising prices of diesel—the fuel used to run most SUVs in India—also affected demand. Sales of SUVs during the April-to-September period this year fell 4.8%.

The Terrano would compete with models such as Ford's recently introduced EcoSport, Tata Motors Ltd. 500570.BY +1.77% 's Safari Storme, Mahindra & Mahindra Ltd.'s XUV500 and Scorpio and the Duster.

Nissan expects that the Terrano would help revive its India sales that fell 43% during April-September 2013 to 12,343 vehicles. The introduction of the SUV comes during the festival season in India when the country's majority Hindus consider it auspicious to make new purchases.

The Terrano is the fourth vehicle that Nissan produces in India—it currently manufactures the Micra subcompact hatchback, the Sunny compact car and the Evalia van.

Nissan also assembles the Teana premium sedan from imported parts at the same factory. It also imports the X-Trail SUV and the 370Z sports car in India.

The company plans to start selling the Datsun Go from early 2014. It is the first model in a line of low-cost vehicles developed for emerging markets such as India under its revived Datsun brand.

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News Network
June 30,2020

Bengaluru, Jun 30: Karnataka Chief Minister BS Yediyurappa on Monday launched 'Skill Connect Forum' and said that the government is committed to provide impetuous to creating jobs by reviving economic and industrial activities.

The 'Skill Connect Forum' portal connects both private entrepreneurs and job seekers on the same platform.

After launching the forum, the Chief Minister said that the portal provides information on jobs available and who needs a job. "Under this forum, an unemployed will be imparted skills and then enabled to get a job," Yediyurappa said.
Besides providing jobs via registration, the portal also provides a skilled pool of people for those looking to hire, he added.

Deputy Chief Minister Dr CN Ashwath Narayan, who is also the Skill Development Minister said that portal will be a boon to the youth seeking jobs and it will avoid unemployment issue to a great extent.

"All these years, there was no information and communication between job seekers and recruiters. The portal will solve that problem," he said.

Narayan said that there was no proper information on skilled workers and job market. Moreover, skill development was not in sync with the market. All these issues have been addressed by the portal, he added.

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Agencies
June 27,2020

Mumbai, Jun 27: The Bombay High Court observed that COVID-19 patients from poor and indigent sections cannot be expected to produce documentary proof to avail subsidised or free treatment while getting admitted to hospitals.

The court on Friday was hearing a plea filed by seven residents of a slum rehabilitation building in Bandra, who had been charged ₹ 12.5 lakh by K J Somaiya Hospital for COVID-19 treatment between April 11 and April 28.

The bench of Justices Ramesh Dhanuka and Madhav Jamdar directed the hospital to deposit ₹10 lakh in the court.

The petitioners had borrowed money and managed to pay ₹10 lakh out of ₹12.5 lakh that the hospital had demanded, after threatening to halt their discharge if they failed to clear the bill, counsel Vivek Shukla informed the court.

According to the plea, the petitioners were also overcharged for PPE kits and unused services.

On June 13, the court had directed the state charity commissioner to probe if the hospital had reserved 20% beds for poor and indigent patients and provided free or subsidised treatment to them.

Last week, the joint charity commissioner had informed the court that although the hospital had reserved such beds, it had treated only three poor or indigent persons since the lockdown.

It was unfathomable that the hospital that claimed to have reserved 90 beds for poor and indigent patients had treated only three such persons during the pandemic, advocate Shukla said.

He further argued that COVID-19 patients, who are in distress, cannot be expected to produce income certificate and such documents as proof.

However, senior advocate Janak Dwarkadas, who represented the hospital, said the petitioners did not belong to economically weak or indigent categories and had not produced documents to prove the same.

A person who is suffering from a disease like COVID-19 cannot be expected to produce certificates from a tehsildar or social welfare officer before seeking admission in the hospital, the bench noted and asked the hospital to deposit ₹10 lakh in court within two weeks.

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Agencies
February 26,2020

New Delhi, Feb 26: With the government pushing for the disinvestment of Air India, industrial conglomerate Adani Group may emerge as one of the bidders for the debt-laden national carrier, sources said.

According to highly placed sources, the Group has held internal rounds of deliberations on whether or not to submit an Expression of Interest (EoI) and the discussions are still in the preliminary stage.

If the company actually submits an EoI, it would be a major move towards further diversification of the company which has business interests across sectors right from edible oil, food to mining and minerals. 

It also entered into airport operations and maintenance business and won bids for privatisation of six airports, Ahmedabad, Lucknow, Jaipur, Guwahati, Thiruvananthapuram and Mangaluru in 2019. 

On being contacted by IANS, the company did not comment on the matter.

Air India is one of the most important divestment proposals for the current fiscal to reach the huge Rs 2.1 lakh crore target.

The government in January restarted the divestment process of the airline and invited bids for selling 100 per cent of its equity in the state-owned airline, including Air India's 100 per cent shareholding in AI Express Ltd. and 50 per cent in Air India SATS Airport Services Private Ltd.

After its unsuccessful bid to sell Air India in 2018, the government this time has decided to offload its entire stake. In 2018, it had offered to sell its 76 per cent stake in the airline.

Of the total debt of Rs 60,074 crore as of March 31, 2019, the buyer would be required to absorb Rs 23,286 crore.

Air India, along with its subsidiary Air India Express, has a total operational fleet of 146 aeroplanes.

Further, the disinvestment department has extended the last date for submission of written queries on the Performance Information Memorandum and Share Purchase Agreement to March 6.

The last date for submission of written queries on PIM and SPA was originally set for February 11, following which the Department of Investment and Public Asset Management (DIPAM) on February 21 issued 20 clarifications on the queries raised and expected.

Any delay in the tentatively rolled out timeline would also delay DIPAM's plan to identify the pre-qualified bidders by March 31 and the financial bids invitation as well. It is expected to take more than two months after the selection of the pre-qualified bidders to complete Air India's sale.

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