07-16-2009, 05:10 PM
Tata Motors Ltd, India's largest vehicles maker, said on Thursday it would deliver the Nano, the world's cheapest car, to its first customer on Friday.
Chairman Ratan Tata had showcased the Nano at an auto show in New Delhi in January last year, but consumer bookings began only in April this year after the project was delayed due to land disputes at its planned site in West Bengal.
Tata has assured price protection for the first 100,000 customers, for whom the cars will be available for Rs 1,00,000 ($2,053), excluding taxes.
The company, which is currently manufacturing the Nano from its interim facility at Pantnagar, has a capacity to manufacture 50,000 cars a year, which it plans to raise to 2.5 lakh units once its new plant at Sanand in Gujarat starts in December
The company sold a total of 6.10 lakh forms and garnered nearly Rs 2,500 crore on 2.03 lakh bookings. Although initial industry expectations were around five lakh bookings, company officials maintain that the company has garnered a good response at a time when the car market is struggling for volumes.
Over 70% of the total 2.03 lakh bookings have come from non-metro markets. Tata Motors, which closed the bookings for the Nano on April 25, 2009, will complete the process of delivering one-lakh cars by the last quarter of 2010. A Tata Motors dealer based out of South Mumbai said, customers have been informed about the delivery schedule in their allotment letters.
Customers, who do not figure in the first one-lakh list, have been given the option of retaining the booking and will earn interest on their booking amount with effect from July 2009. According to Tata Motor spokesperson, as many as 55,021 customers have consciously agreed to accept the delivery of the cars after the first batch delivery.
Chairman Ratan Tata had showcased the Nano at an auto show in New Delhi in January last year, but consumer bookings began only in April this year after the project was delayed due to land disputes at its planned site in West Bengal.
Tata has assured price protection for the first 100,000 customers, for whom the cars will be available for Rs 1,00,000 ($2,053), excluding taxes.
The company, which is currently manufacturing the Nano from its interim facility at Pantnagar, has a capacity to manufacture 50,000 cars a year, which it plans to raise to 2.5 lakh units once its new plant at Sanand in Gujarat starts in December
The company sold a total of 6.10 lakh forms and garnered nearly Rs 2,500 crore on 2.03 lakh bookings. Although initial industry expectations were around five lakh bookings, company officials maintain that the company has garnered a good response at a time when the car market is struggling for volumes.
Over 70% of the total 2.03 lakh bookings have come from non-metro markets. Tata Motors, which closed the bookings for the Nano on April 25, 2009, will complete the process of delivering one-lakh cars by the last quarter of 2010. A Tata Motors dealer based out of South Mumbai said, customers have been informed about the delivery schedule in their allotment letters.
Customers, who do not figure in the first one-lakh list, have been given the option of retaining the booking and will earn interest on their booking amount with effect from July 2009. According to Tata Motor spokesperson, as many as 55,021 customers have consciously agreed to accept the delivery of the cars after the first batch delivery.
