Mumbai: Tata Motors is not perturbed by the sharp rise in input costs and will come out with Rs 1 lakh car by the middle of next year, a top company official said.
The company, in its presentation on the first quarterly results, had said its operating margins were under pressure due to sharp rise in commodity prices, crude oil prices, hardening interest rates and the inflationary pressure prevailing in the economy.
Asked whether the company could still come out with a small car of Rs 1 lakh given the rising input costs, Managing Director Ravi Kant said: "That is still our target. We will come close to it. We have not changed the target despite the rising costs."
Referring to queries on possible competition in the small car business, he said, "We will be the first mover and we will have that advantage. we are aware there will be competition."
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