Tata Motors Nano could enter Europe in 2-3 yrs-CEO

FRANKFURT: India's Tata Motors could bring its small car Nano, touted as the world's cheapest car, to the European market as early as 2013, although a final decision has not been made, its chief executive told a paper. Asked whether the Nano would be made available in Europe, Carl-Peter Forster told German newspaper Frankfurter Rundschau in an interview published on Saturday: "We don't know yet. But it will certainly take two to three years."

Sales of the Nano -- costing slightly more than $2,000 apiece -- doubled in February to 8,262 units.

Tata Motors, part of India's salt-to-software Tata conglomerate whose range includes utility vehicles, cars and the ultra-cheap Nano, posted December-quarter net profit of 24.24 billion rupees ($857 million), compared with 6.5 billion a year earlier.

Source: EconomicTimes