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Tata's new car is cheap ($2,467), but will it sell?

MUMBAI, INDIA — Tata Motors Ltd. is set to unveil the world's cheapest car as early as January as it takes the growing interest in low-cost vehicles to a new extreme. The Indian carmaker will launch its $2,467 vehicle by the third quarter of 2008 and may unveil it at January's Auto Expo in New Delhi, Managing Director Ravi Kant said. Separately, Tata Motors is developing a line of small hatchbacks and mid-size sedans to be introduced next year. India produces 1.3 million cars a year. With the market growing at 10% to 12% per year, this could reach 3 million within a decade. The four-door car — a pet project of Tata Group Chairman Ratan Tata — would be the...

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