Tata Motors Passenger Vehicles Ltd.

Tata Motors released an upgraded Nano model as it looks to improve on well below-estimate sales of a product touted as the world's cheapest car. Tata has sold around 1,30,000 Nanos since the car was launched in April 2009. The four-seater car costs as little as Rs 1,40,000 ($2,730), and was launched in a blaze of publicity in price-sensitive India. Sales have underperformed expectations, as rising input costs forced the firm to increase the car's price, and a land dispute at the model’s West Bengal factory forced Tata to move production to Gujarat. In November, Tata offered Nano owners the option to install safety protection in their vehicles after local media reported that seven cars had caught fire.