Nano booking to start from April 9

March 23, 2009

The booking of the Nano, the Rs 100,000-people’s car from the Tata stable, will begin on April 9 and remain open till April 23.

The delivery of the first lot of Nano cars will begin in early-July, he said, adding that applications for booking of the car would be available in 30,000 locations in 1,000 cities across India.

State Bank of India would be the qualified banker for collection of bookings in 850 cities, he said.

The car can be booked by just paying Rs 2,999 upfront while the rest can be secured by way of loan, he said. There would be 15 preferred financiers for the booking whose names would be disclosed in three days.

The first 100,000 customers will be selected by draw of lots from the bookings.

Source: Rediff

Nano rolls out today

March 23, 2009

tata-nano-1The world’s cheapest car, Tata Nano, will be launched today with its makers hoping it will be a hit with India’s emerging middle-classes.

Just 30,000 to 50,000 of the 4-door Nanos are likely to be sold in the first year because of limited production capacity – a fraction of the company’s original planned target, auto sector experts said.

tata-nano-cheap-carAnd they say the sporty, jellybean-shaped car which has attracted world headlines thanks to its price tag of just Rs.1,00,000 ($2,000) – cheaper than some laptop computers – will not contribute much immediately in the way of profits to troubled Tata Motors due to its small volumes.

This is how it rolls out..

Last October, Tata Motors pulled the Nano car project out of Singur in West Bengal, even though the plant was 90% completed.

The retreat followed months of violent demonstrations by activists and farmers evicted from their land that raised fears about India’s attractiveness for foreign investors.

The Nano now is being rolled out from two existing Tata manufacturing plants in what Mr.Ratan Tata has described as a “makeshift kind of operation.”

Tata Motors’ new Nano plant in Sanand, Gujarat is not expected to be ready until the end of 2009.

In the second year, Nano sales could jump by over 200% to 1,50,000 cars, said Mr.Vaishali Jajoo, an analyst at Angel Broking, as production ramps up at the Gujarat plant.

Source: Auto India