Tata Nano aka world’s cheapest car to launch on Mar 3

The rumormongers are chirping March 3 as the destined date for Tata Nano to hit the Indian roads. The Tata spokesperson gladly turned it down but government officials claim Tata decided Mar 3 as the launch date because it coincides with the birthday of Jamsetji Tata, the founder of Tata Group.

Related Nano news from Economic Times suggests that the bookings of the car will begin from February end and the customers have to pay Rs. 70,000 ($1,436) which is 70% of the total price of the car. Tata expects to garner orders over a lakh (100,000) translating a quick cash inflow of over Rs. 700 crores ($144 million). The allotment of the cars will be done by a way of raffle as only 3000 cars will be available up for grabs every month. The supply will increase as soon as Tata’s Gujarat plant will be ready by the end of the year.

The standard model will be sold for Rs. 1 lakh ($2052) while the two other models will go for Rs. 1.24 lakh ($2544) and Rs 1.34 lakh ($2750).

[Via Bus-Standard|ET]

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