REPORT: Tata Motors says it has 500,000 Nano application forms
Tata Nano - click above for a high-res gallery
The Nano is off to a smashing start, with Tata reportedly claiming it has already received 500,000 application forms since the car went on sale April 9. Tata Motors sent out order forms to 30,000 locations throughout India, and charged 300 rupees ($6.00 in US funds) to anyone that filled out the form. Tata Motors has generated the equivalent of $3 million so far, and interested parties have until April 25 to order their own Nano. The company is expecting between 750,000 and one million orders by the deadline, giving the Indian automaker up to $6 million in income without making a single vehicle. The State Bank of India, which has about 25% of the total orders to date, will finance the Nano for up to seven years at interest rate of 10%.
One million pre-order applications is a mighty impressive sum for the $2,500 micro car, and it's a number that Tata Motors doesn't even intend to hit in the Nano's initial batch. Tata will fill 100,000 orders in the first tranche, and it intends to hold a raffle to see which of the orders will get fulfilled. Tata Motors will begin delivering the Nano this July.
Gallery: Tata Nano
[Source: Business-Standard via Indian Autos Blog]
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Reader Comments (Page 1 of 2)
ronEbear 8:35AM (4/20/2009)
They`re going to rush production and quality will suffer - more.
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Amien 9:17AM (4/20/2009)
"Tata will fill 100,000 orders in the first tranche, and it intends to hold a raffle to see which of the orders will get fulfilled."
What are you on about?
Duke 12:11PM (4/20/2009)
Amien, the joke seemed to pass you there. He was mocking the fact that the car isn't exactly high quality as it is. See, its meant to make you giggle.
Beastage 8:44AM (4/20/2009)
Ugh, I can see oil prices going up because of this.
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Jake 9:01AM (4/20/2009)
"The State Bank of India, ... will finance the Nano for up to seven years at interest rate of 10%."
I guess Indians now have the ability to be as stupid as Americans when it comes to car financing.
Now, what was it that caused this recession that we're in?
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Wobbly_ears 9:36AM (4/20/2009)
@ Jake,
You'd be surprised as to how Westernized Indians are! Unlike in other Asian countries, the Indians are all about buying on credit, keeping up with the Joneses etc. The younger generation have caught on to carrying big debts on their credit cards.
It is just a price to pay for prosperity. Good usually comes with some side-effects.
Jake 9:56AM (4/20/2009)
Once I figured out that carrying heavy debt was actually a hinderance and not a help and I started living debt-free; I found that I could easily surpass the Joneses, and not just keep up with them. Two paid for cars, including a Lexus and no credit card debt or other consumer debt, family of four living on one engineer's income with a 30% savings rate.
Wobbly_ears 10:23AM (4/20/2009)
@ Jake,
I hear you brother! I cringe when I hear people carrying heavy debt. I couldn't live with that burden on my mind.
I think many are going to be getting some really rude awakening soon, if not already. Live within your means & you'd be happy.
There's an old Indian saying: "Spread your legs only as far as the blanket"
DesiAuto 10:47AM (4/20/2009)
It seems like Indian mentality is becoming what American was for last year. Spend, buy, waste and debt.
It seems American mentality is changing to giving most importance to family, education and savings. (which is what Indian mentality was for last 50 years)
harlanx6 9:37AM (4/20/2009)
If you aren't impressed with this story, there is something wrong with you. It sure looks to me like this is a powerhouse of auto manufacturing that is going to make a real impact on the global market.
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MajorGeek 9:38AM (4/20/2009)
The Bic lighter of automobiles. Use it until it breaks, then just leave it where it dies. History of cars like these typically leave people with a car that goes 60k miles... if your lucky. I mean those tiny tires cant be good for more then 15k, can they?
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Bloke 11:03AM (4/20/2009)
Given that the Nano is designed for - and likely be used for - purely urban use, 15K miles is a lot of trekking. Whatsmore, tyres that size will hardly break the bank to replace.
Avinash machado 9:50AM (4/20/2009)
This is more like a four wheeled scooter or motorcycle. But much more safer and comfortable. Quite an impressive engineering feat.
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Swede 10:24AM (4/20/2009)
10%?! Expensive!
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ken_aisin 10:44AM (4/20/2009)
Is that for 500000 Nanos or for 500000 individuals trying to cram into 50000 Nanos?
We've all seen how they overload their scooters:
http://3.bp.blogspot.com/_k3M5ngfXGQg/R7QfY4XxXkI/AAAAAAAAAl8/tiWH1lPs_Hs/s320/scooter%2Bindia4.jpg
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E RASMSSEN 1:17PM (4/20/2009)
The most frightening aspect is that soon there will be 500.000 of the worst drivers in the world all competing for that very title in the cheapest car in the world on the worst roads in the world and pretty soon will be all needing medical attention in the worst medical system in the world. Think of the carnage......
patrick clement 10:51AM (4/20/2009)
At least the export model gets a three cylinder engine verses the unfortunet two cylinder engine that the Indian model gets.
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Bodo Albrecht 11:16AM (4/20/2009)
What are the odds that the Nano will cause the Tuktuk market to crash rather than add cars to the roads?
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I am Rich 12:43PM (4/20/2009)
"Dank yoo. Buy again, my friend."
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samirrasam 8:21AM (4/22/2009)
Nano looks cute and is quite spacious. What is to be seen is how it performs on the road with full load ( 5 people) and aircon working! Although it has not finally tuned out to be a Rs 1 lac car, but it still has broken the Rs 2 lacs barrier!
Samir Rasam
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