10/16/2012

Regulations turn a $3,000 car in India into nearer $10,000 car in the US

From Fox News:
The chairman of Indian automaker Tata has announced that he plans to bring the $3,000 Nano micro car to the United States within three years, according to Automotive News. . . . 
The Nano is currently powered by a 37 hp two-cylinder engine and lacks common safety features such as power steering, traction control and airbags. It was originally designed to compete in the Indian market against scooters and motorcycles. 
Along with added safety equipment, it’s likely the car will get a larger, less polluting engine for export markets. Unfortunately, that means the price will increase, as well, possibly tripling by the time it goes on sale here. 
“The Smart and the Fiat 500 have high sticker prices, and people buy them because they are small cars,” Tata told Automotive News. “But everyone knows you put a lot of money into it. We hope that the sub-$10,000 car has appeal.” . . .

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