Tuesday 5 May 2009

Tata Nano orders surpass 200,000 (IN)

The Tata Nano, a car built for the masses has received over 203,000 orders, more than double the number of cars that will be made in the initial production run.

Potential Nano buyers were required to pre-order cars ahead of a deadline of 25th April with recipients of the car then being decided by a lottery.

According to official figures from Tata, 70% of the orders were placed on finance and 30% were fully paid. Of the fully paid bookings, around 4,000 were made through the company's website.

There are 3 trim levels available for the Tata Nano. Of the bookings, 20% were for the Nano Standard, 20% for the Nano CX and 50% for the range-topping Nano LX. The potential buyers will now be told within 60 days whether they have been successful in the lottery.

Deliveries will start this July and are expected to be completed in the last quarter of 2010. However, Tata has pledged it will make all efforts "to ramp up production and deliver earlier."

The value of the bookings made for the Tata Nano is $101 million (£67 million). Buyers who do not succeed in the lottery but still want a car will be paid interest on their deposit, while those who drop out of the scheme will have their money refunded.

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