Tata Launches Worlds Cheapest Car ‘Nano’

Tata Motors launched its people’s car, ‘Tata Nano’ in Mumbai, India on 23rd March . Costing just 100,000 Indian Rs ($1,979; £1,366) the car is said to be the cheapest in the world, Over 100 media persons were present during the  launch ceremony and around 1000 guests attended.

The Nano can be booked at more than 30,000 locations in 1,000 cities across India, including Tata-owned department and electronics stores, the booking forms will cost 300 Rs each.

The  Nano is a four-seater and has a length of 3.1 metres, width of 1.5 metres and height of 1.6 metres. Tha car would deliver a fuel efficiency of 23.6 km per litre and have a top speed of 105 km per hour.

Tata Nano will be available at just Rs. 2,999 down payment. Owners will be randomly selected from the bookings made between April 9 and 25, said Chairman Ratan Tata,

“From today onwards, the product will be available in the showrooms… There will be three versions – the base version, which is the one we promised to the people of India and two upper tier versions…,” Tata Group Chairman Ratan Tata told a news conference.

The higher-end versions of the Nano will have AC, power brakes and power windows.

Checkout the TATA Nano Review

Tata Motors said that State Bank of India (SBI), which is authorised as the sole booking partner for Nano, the Bank will provide loans at 11.75 % with a tenure of 7 years. A Rs 1 lakh loan for Nano would come with an EMI of Rs 1,752.

The car comes with three models.

• Tata Nano Standard (BSII* and BSIII*): The standard version has three colour options, single-tone seats, and fold-down rear seat.
• Tata Nano CX (BSII* and BSIII*): This model has five colour options, with heating and air-conditioning (HVAC), two-tone seats, parcel shelf, booster-assisted brakes, and fold-down rear seat with nap rest.
• Tata Nano LX (BSIII*): It comes with the features of CX plus complete fabric seats, central locking, front power windows, body coloured exteriors in three premium colours, fog lamps, electronic trip meter, cup holder in front console, mobile charger point, and rear spoiler.

“This will make the car affordable to an additional 14 million families, including a section of 58 million two- wheeler owners,” Crisil said.