Tata Motors launches Tata Nano, the World’s Cheapest Car

Tata Motors Passenger Vehicles Ltd. | Automobiles - Passenger Cars | Automobiles | BSE: 500570 | NSE: TMPV

24 Mar 2009 Evaluate

The wait for the world’s smallest car is over with the commercial launch of Tata Motor’s Nano on 23^rd March 2009 at Mumbai. The Tata Nano is BS-III compliant and it will be on display across the country at Tata Motors Passenger Car dealerships and other selected authorized outlets from 1^st April 2009. It is currently being manufactured at Pantnagar plant in Uttarakhand in limited numbers. The dedicated Nano plant at Sanand in Gujarat will be ready in 2010 with an annualized capacity of 3.5 lakh cars.

Currently three variants have been launched – Tata Nano Standard, Tata Nano CX (with heating and air condition) and Tata Nano LX (front power windows, fog lamps). Of this Standard and LX will be available in three colours, while CX will be available in five colours. Tata Motors indicated that many of the features of LX are not available on current entry level small cars in India. These cars come with warranty of 18 months of 24,000 km, whichever is earlier.

The Sale of application forms and acceptance of booking will start from 9^th April 2009 till the end of day 25^th April 2009. The application forms costs Rs 300 while the booking amount starts from Rs 2,999. Within 60 days of the closure of bookings, Tata Motors will process and announce the allotment of 1 lakh cars in the first phase of deliveries, through a computerized random selection procedure. A notable feature is the price protection for these 1 lakh allottees for launch price till delivery of the cars. The deliveries will commence from July 2009.

The company has entered into agreement with 15 preferred banks/NBFCs for the Tata Nano booking loan product. Segment wise, the Nano would be attraction for the entry level cars segment and existing car owners who would purchase small car for the city drive. However Nano could create a new need for 1^st time vehicle purchasers who could think of purchasing Nano instead of two wheelers as it provides better safety on Indian roads.crack crack

Tata MotorsPassenger Share Price

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Company Name	CMP
Tata MotorsPassenger	357.55
Maruti Suzuki	13741.00
Mahindra & Mahindra	3352.00
Hyundai Motor India	1836.00
Mercury Metals	31.94
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