About a month ago, Tata Motors began accepting pre-orders (through a lottery/booking slip form) for the World's Cheapest Car, the Nano. In the first week, Tata announced it had sold over 81,000 booking forms but Tata has even better news to report this week: 203,000 fully paid bookings. Now that the pre-order window has closed, Tata will use a computer to randomly pick the first 100,000 people who will get to take possession of tiny car in July.
The 203,000 bookings represent sales of almost $101 million (U.S.) for the Indian company, and not everyone who orders a Nano is opting for the cheapest of the cheap. Tata Motors says that the Nano Standard makes up 20 percent of the bookings, while the Nano CX snagged 30 percent, leaving the remaining 50 percent of the orders for the top-end Nano LX. The LX apparently offers metallic paint as well as power windows, fog lamps, air conditioning and heater. Thanks to Gustavo for the tip!
[Source: MotorTips, Green Car Congress]
Mumbai, May 4, 2009: The Tata Nano has drawn over 2.03 lakh fully paid bookings amounting to nearly Rs.2,500 crores, in an encouraging response to the car launched on 23rd March.
The Tata Nano website recorded an unprecedented 3 crore (30 million) hits from the date of launch of the car to the closure of the booking period (25th April, 2009), nearly 1 million hits a day. About 14 lakh people walked in to Tata Motors' Showrooms, Croma and Westside stores across the country to catch a glimpse of the car. A total of 6.10 lakh forms were purchased from the booking centres. 70% of the 2.03 lakh bookings received were financed, while 30% of the applicants booked in cash by paying fully. About 4,000 cash bookings were made online through www.tatanano.com, a first for the auto industry in India. Among the three variants of the car, 20% bookings are for the Nano Standard, 30% for the Nano CX and the remaining 50% for the top-end Nano LX.
As announced on 23rd March, the first 100,000 allottees from among the applicants will be chosen through a computerised random selection procedure, and the announcement will be made within 60 days of closure of the booking. Deliveries will start in July 2009, and are expected to be completed in the last quarter of 2010, while all efforts would be made to ramp up production and deliver earlier.
Simultaneously along with the announcement of the first 1 lakh successful allottees, Tata Motors will also announce the allotment of those booking applicants who have expressed their interest in retaining their bookings with the company even if they do not form part of the first 1 lakh allottees. The retainees will earn an interest on their booking amount, effective from that date. The booking amounts of unsuccessful applicants who have not chosen to retain their booking amounts will be refunded at the same time.
Tata Motors places on record its gratitude to the people of India for according such a warm welcome to the Tata Nano, and to all its preferred financiers, dealers and partner companies in making the Tata Nano far more accessible.
About Tata Motors
Tata Motors is India's largest automobile company, with revenues of US$ 8.8 billion in 2007-08. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand and Spain. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 4 million Tata vehicles plying in India, Tata Motors is the country's market leader in commercial vehicles and among the top three in passenger vehicles. It is also the world's fourth largest truck manufacturer and the second largest bus manufacturer. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia and South America. (www.tatamotors.com)