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The world’s cheapest car, the widely-awaited Nano, will be launched on March 23, Tata Motors said on Thursday. The company will display the
Nano at dealerships from the first week of April and will accept bookings from the second week of April. The launch of the Nano, whose potential to revolutionise the automobile industry has been widely acknowledged in India and abroad, will be one of the bright spots in a bleak landscape for the global automobile industry.
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Sales have plunged by double-digit percentages, or worse, in markets across the world from the US to China. In India, Nano’s entry might lead to growth in the domestic market.
The car may also find a niche abroad, as cash-strapped consumers are likely to look for bargains.
The company displayed the Nano at the Geneva Motor Show last year and plans to present the European version at the show in March 2009. It plans to sell Nano in Europe for E5,000.
The company unveiled the Nano in January 2008 with a price tag of around Rs 1 lakh, nearly half the price of the next cheapest car in India, and aimed at launching it in the last quarter of 2008.
The launch was delayed, as Tata Motors had to relocate its factory from West Bengal to Sanand in Gujarat because of protests over acquisition of agricultural land. It invested Rs 1,500 crore for setting up the West Bengal unit and is spending Rs 2,000 crore in the Sanand plant.
Tata Motors will roll out 60,000-80,000 units of the Nano from another plant in Pantnagar in Uttarkhand till the Sanand unit is geared up to produce 2.5 lakh units a year.
On Thursday, the announcement of the launch of the Nano created a lot of excitement among dealers and vendors. A prominent dealer in Mumbai said initial bookings would keep the company busy for the next three years. Sona Koyo Steering Systems executive chairman Surinder Kapoor said: “Nano is the most-awaited car, and, therefore, its launch is welcomed by the world. We are now looking forward to the launch, as it is very important to us as a company.”
The dealers expect that Nano will be a big revenue earner for Tata Motors and its vendors, although they said the car might earn small margins. The company, like its counterparts in the automobile industry, has been struggling with declining sales.
Dealers said the company might take full payment for bookings. There is speculation as to whether Tata Motors would launch Nano in a number of cities.
“The company is making arrangements for the widest possible network to book the car, so that prospective customers can conveniently avail of booking facilities at their locations. The booking process and other details will be announced on March 23,” the company said in a statement.
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