India Broadband Forum

Rameshjeee

You can pay Rs 70,000, book a Nano by Feb-end

Bookings for the Rs 1 lakh Nano will begin by February end. The booking amount for the world’s cheapest car will be around Rs 70,000. But, even after paying 70% of the car’s total cost, the wait could be quite long.

Sources familiar with development said that all dealers of Tata Motors and branches of the State Bank of India (SBI) will accept bookings simultaneously across the country in the next three weeks. SBI will initially engaged 100 branches and take the number eventually to 1,000.

Tata Motors and SBI have entered into an exclusive arrangement for the Nano car. SBI will not only act as sole lender to buyers but also offer its branches for bookings.

As Tata Motors is eyeing initial bookings of over one lakh cars, the company hopes to collect around Rs 700 crore in just a few weeks. Allotment will be made through a draw and, going by projections even during this recession, those at the top of the draw would have the choice of becoming proud owners of the first Nanos, or getting a premium in the black market.

Nano would be launched in March 2009 with cars rolling out from the Pantnagar plant in Uttranchal. This plant can produce only 3,000 cars per month — just a fraction of the demand.

Things will ease only after the cars roll out of Sanand plant near Ahmedabad which will have an initial capacity of producing 2,50,000 cars per annum. But the Gujarat plant will take at least one year to start production.

Nano’s launch had been scheduled for 2008 but plans got derailed when Tatas were forced out of Singur in West Bengal.

vikramjb

It may seem that Gujarat plant has lesser capacity than that of Uttranchal ?

I am having enough trouble waiting to get my Hero Honda Pleasure after booking more than a month, I am not sure If it might be a good idea for such a long period of time.

Maybe I can just invest 70K in MF or something and wait one year and buy Alto or Santro (I am dreaming I know )

panchabhut

just reminds me of the time people used to apply for a maruti 800 and then wait, wait and wait.
there were even handsome premiums on matured applications.

cool_techie_tvm

Thanks for the info

magnet

from where u got this news sir???

i mean source....

And its sad now we have to queue at sbi...it would had been better if some online transfer stuff too could have been counted.....

Btw initially less Nano will come out as no plant of tata is perfect...since they are in bigger loss and having serious short fall of cash to pay their vendors...plus jaguar-Lr deal...they bought it expensive and than market crashed

cool_techie_tvm

Here is one source : You can pay Rs 70,000, book a Nano by Feb-end- Automobiles-Auto-News By Industry-News-The Economic Times

saurav_k

thanks for the info, rameshjee

panchabhut

Please contact Mr. Ratan Tata. He might find your proposal useful in getting more cash from the market.
There s too much expectation among people. But what people tend to forget is that a cheap car would be just that - a "cheap" car. And there is bound to be some frustration on receipt of the actual product.
So be ready to get Nano in the second hand market soon after the launch.

magnet

lol already tata motors have started offering fds..check their site...thats actually money as bank wont lend or they cant back bank 20% loan back so fds stuff

justcurio.us

I expect to see huge crowd outside new TATA/fiat dealership near my office.This Nano fits the bill,it's a small car for small family and fulfills a long cherished dream of all weather and convenient mode of transportation for all.There will be record bookings all over.

amitkool21

thanx for this info sir jeee

it was also in the news papers..........

magnet

ya also heard in tv news...most probably in april booking will start but on 3rd march its officially coming on road...100 cars...to mark JRD bday