Tata Motors, India's largest automobile company by revenues launched its much awaited hatchback Tiago at an aggressive introductory price of Rs 3.2 lakh to Rs 5.54 lakh ex-showroom New DelhiPriced Rs 80,000 lower than Maruti Suzuki Celerio and about Rs 50,000 lower than Hyundai i10 and Rs 1.2 lakh lower than Grand i10, Tiago is the first all new car from Tata Motors since Nano.The Tiago compact hatchback along with Maruti Suzuki's Wagon R and Celerio, and Hyundai's Grand i10 sells about 40,000 to 45,000 cars a month. Post the launch of Celerio segment size has grown by double digits. The segment accounts for almost one-fifth of the Indian passenger vehicle market to about half a million units sold per annum.Launching the Tiago, the newly appointed MD of Tata Motor Guenter Butschek said it is a game changing model for the company.Butschek who has just come to India from Europe in February drove around Tiago on various terrain ahead of the launch.For someone who is use to driving on Autobahn at 140 kilometers an hour, Butschek observed, "The car has outstanding handling experience. For me it is a game changing product. We have positioned the car in the medium hatchback space but are targeting higher end customers."The car is built on an all-new platform and has been designed and developed after taking inputs from close to 1,000 prospective buyers. More than 200 engineers started work on the project 36 months ago and the car is developed under Tata Motors' Jaguar Land Rover-inspired new product introduction process.Tiago will be the second car to be produced at the company's Sanand plant and the company has mandated vendors to work on a 4000-5000 units per month scheduleTata Motors has loaded Tiago with features that don't usually come in the affordable hatchback segment to entice buyers of segment above like touch screen infotainment system, navigation, multi-drive mode, rear parking sensors harmon Kardon 8 speaker music system.To be available in 5 variants, the company has offered a safety pack in three trims (XE,XM, XT)for extra Rs 18,000 - which will offer dual airbags, seat belts pre-tensioners and load limiter.The vehicle is powered by all new Revetron 3 cylinder 1.2 litre petrol engine which delivers a fuel efficiency of 23.84 kilometres to a litre and 1 litre Diesel engine delivers 27.28 kilometre per litre, which is the company claims is the most fuel efficient hatchback in the segment.Hormazd Sorabjee, Editor at Autocar India said this car has potential to pull Tata Motors car-Biz back from the brink with its industry rattling price."The car has possibly set a new global benchmark for value for money. In a segment that it competes in, it is easily the best product.The R&D has done their job and has given the sales team the right goods to do deliver and now the true test will be to change the perception of Tata brand," said Sorabjee.