The Tata Nano, the world’s cheapest car, will hit Indian roads in July, with expectations that demand from millions of aspiring car owners will far outstrip supply.
Launching six months behind schedule in a subdued market, with production in the first year severely constrained, and the threat of further ratings downgrades hanging over the company, it will take over a year to deliver the first 100,000 cars.
Owners will be randomly selected from bookings made between April 9 and 25, and their prices will be protected, said Chairman Ratan Tata, who had promised a 100,000 rupee ($1,980) dealer price at a glitzy unveiling more than a year ago.
“We are at the gates offering a new form of transportation to the people of India, and later I hope other markets as well,” Tata told a news conference.
A European variant will be launched by 2011, and the company is also looking at the United States, as the current economic situation has made low-cost cars even more attractive, even though that had not been the original intention.
“I think, driven mainly by the change in demand that we see elsewhere in the world, we suddenly felt we had a product that could be of considerable interest as a low-cost product in western Europe, eastern Europe, the UK and even the U.S.,” Tata said ahead of the launch where the retail price will be revealed.
The Nano can be booked at more than 30,000 locations in 1,000 cities across India, including Tata-owned department and electronics stores, with booking forms costing 300 rupees each.
