India's Tata Debuts $2,500 Car

(NEWSER) - Indian automaker Tata has 203,000 domestic orders for the Nano—the world’s cheapest car—which will start delivery in July, Bloomberg reports. The first editions of the $2,500 vehicle will go out to just 100,000 eager buyers, who will be chosen by lottery and must put about $1,900 down. The groundswell of enthusiasm will net the company $501 million—and 17% of India’s auto market for the fiscal year ending in March. More»

Tata Motors plans to take $2,000 car to Europe, US

(NEWSER) - India's Tata Motors rolled out its $2000 Nano car yesterday, six months late but with grander plans than ever, reports the Los Angeles Times. The company aims to sell the vehicle—10 feet long and less than 5 feet wide—not only to India's emerging middle class, but to the European and North American markets. More»

Troubled automaker turns to its Indian owner to help with cash-flow crisis

(NEWSER) - The British government, considering a bailout of its own auto industry, got a little wiggle room after Tata, the Indian firm that owns Jaguar Land Rover, said it would make a major cash injection into the ailing automaker that employs more than 15,000 workers in Britain. The company said it would pour “tens of millions” into the company, reports the Financial Times. More»

Big Three bankruptcy would disrupt supply chain, further sour US economy

(NEWSER) - As Detroit’s Big Three await word on the fate of their much-needed bailout, an unlikely group of supporters has assembled in their corner: foreign automakers. A collapse of General Motors, Ford, or Chrysler would devastate overseas manufacturers as well, CNNMoney reports, spreading bankruptcy to suppliers around the globe and forcing dealer networks worldwide to replace failed brands. More»

We need urgent action, Gore warns

(NEWSER) - Al Gore doesn't want a White House job, but he does have advice for Barack Obama: Use the bailout plan to transform the Big Three automakers. As vice-president, Gore rolled out a billion-dollar program to pay for fuel-efficient Detroit vehicles—"but as soon as they felt they were off the hook, they pulled the plug and walked away," Gore tells Newsweek. Now Obama can transform Michigan into a hybrid electric car hub, he says. More»