Tata Group chairman Ratan Tata is all set to start on the Nano, the 4-seater, 100,000-rupee price tag super-cheap car for the masses, on Monday.
Expressed as ‘people’s car’ by Ratan Tata, customers can look forward to own a car at a price between Rs.1.20lakh and Rs.1.30lakh, depending on the version of Nano.
The Nano would come in three versions — standard and two deluxe models with air conditioning.
After the launch in Mumbai, Nano would be displayed at the company’s dealerships from the first week of April, while the bookings would start from the following week. The booking amount is fixed at Rs.70,000.
Only 50,000 cars will be presented in the first year from Tata facilities in Pune and Pantnagar. Tata is waiting for the 250,000-unit capacity in Gujarat to come on-stream to meet public demand for the vehicle.
Tata Motors Ltd moved in its mega low-cost Nano car to Sanand in Gujarat following violent protests at Singur in West Bengal.
The car was discloseed in January 2008. It was planned to go on sale last October, but problems with the main plant location delayed the launch.
Ratan Tata said on Monday that the bookings for Tata Nano would remain open from 9 April to 25 April and the delivery will start in July.
The minimum down payment would be Rs.2, 999 for Nano, which would come in three models.
The ex-showroom price of the base model would be Rs.1lakh.
The relevance forms will be available for Rs.300 at 30,000 locations across 1,000 cities, he said.
In the initial stage, one lakh applicants would be allotted for the cars randomly and there would not be given any interest on their booking money, he said.
The company would however pay 8.5 per cent interest to applicants who d exclusive on’t feature among the first one lakh buyers.
Tata Motors has entered into limited banking tie-up with SBI in 850 cities. On the Singur land, Ratan Tata said that the company has not yet decided what to do with it.
The total Nano project has been pegged at Rs.2, 000crore, he said, adding that it would be too early to say when the project will break even.
Its Sanand plant in Gujarat is likely to start operations at the end of this year.
Tata Motors also said that a redesigned Nano could hit the US markets after two and half years.
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