Mumbai: The maker of Jaguar and Land Rover luxury vehicles, Tata Motors Ltd, will start accepting bookings for the Nano, the world’s cheapest car, in the second week of April.
The auto maker will display the Nano at dealerships from the first week of April, Tata Motors said in a statement on Thursday. The Mumbai-based company will elaborate on thebooking process on 23 March.
Limited stocks: Tata Motors unveiled the Nano last year aiming to sell it at Rs1 lakh, almost half the price of the country’s next cheapest model. Ramesh Pathania / Mint
Tata Motors unveiled the Nano last year aiming to sell the car at Rs100,000, almost half the price of the next-cheapest model in the country.
Chairman Ratan Tata’s plan to begin sales of Nano from the last quarter of 2008 got delayed as the company had to relocate its factory because of protests by farmers about acquisition of agricultural land.
“We expect only limited quantities to be produced now—maybe about 3,000 a month—so the waiting period could be long,” said Surjit Arora, autos analyst at Prabhudas Lilladher Pvt. Ltd.
Tata Motors’ new Nano plant in Gujarat is not expected to be ready until the year-end. The company has said it would make the first Nanos at one of its two existing plants in Pune, about 170km north of Mumbai, and at Pantnagar in Uttarakhand.
The company, also India’s largest maker of trucks and buses, will sell the Nano in Europe for €5,000 (Rs3,20,000), Bild said, citing an interview with Tata. The car maker will present the European version of the Nano next month at the Geneva car show, the newspaper said.
Tata Motors gained 7.26% to close at Rs150 on the Bombay Stock Exchange. The shares have declined 10% this year, extending last year’s 78% slump.
Reuters contributed to this story.