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TELCO revitalizes Indica petrol model - Views on News from Equitymaster
 
 
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  • Nov 4, 1999

    TELCO revitalizes Indica petrol model

    Tata Engineering & Locomotive Co. (TELCO) is revamping the much-ignored Indica petrol model with a new engine. This was reported by a leading newspaper.

    TELCO is India's largest medium/heavy commercial vehicles (M/HCV) (65% market share in September 1999) and light commercial vehicles (LCV) (63% market share) manufacturer. It also manufactures utility vehicles (28% market share) and passenger cars (7% market share).


    Market shares in September 1999

    TELCO's move to revive the petrol version of the Indica is attributed to the 40% hike in diesel prices. The petrol variant of the Indica does not have an air-conditioner. It will be launched with a new 75 hp engine, and a multi-point fuel injection (MPFI) system like its competitors. The car will be ready for launch by December. The company did not reveal the price at which the car will be launched.

    Given TELCO's efficiency in most matters, its laid-back policy regarding the Indica petrol version is surprising to say the least. Its only with the diesel price hike has the company been forced to review its strategy, else it would have made little or no attempt to revive the petrol variant.

    At a time when competitors are coming out with new models/variants to capture market share, TELCO can ill-afford to ignore any avenue for growth. Demand for petrol cars is robust, as its competitors (Maruti, Santro) have found out. TELCO may already have lost out on some market share, and will have to work harder to regain lost ground.

    Market view:
    In view of the disappointing 2QFY2000 results, analysts have flagged a 'LONG TERM BUY' on the company largely due to downward pressure on operating margins in 2QFY2000 and in anticipation of repeat performances in the remaining two quarters of FY2000.

     

     

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