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REPORT: Tata selects first 100,000 Nano buyers from lotto

7874 Views 3 Replies 4 Participants Last post by  viney266
Filed under: Car Buying, Economy, Plants/Manufacturing, Tata

Tata Nano - Click above for a high-res image gallery

Interest in the world's most affordable new car has been very strong, as Tata Motors reportedly received 206,000 applications for the $2,500 Nano. Due to production constraints, Tata ran a lottery to determine which of the applicants would receive one of the first 100,000 Nanos, and the Indian automaker is informing the "winners" in person.

The first 100,000 customers eligible to receive a Nano will get their car by the end of 2010, with deliveries beginning in July. The first allotment of 100,000 Nanos will be price protected to remain consistent with Tata's press release in March. Of the 106,000 Tata customers left out in the cold (for now) 51,000 chose not to keep their names in contention for future Nano lotteries. Those customers will be offered discounts on other Tata products.

The remaining 55,000 customers that are still in contention for future Nano lotteries are also being offered discounts. Since Tata collected a "booking fee" for the right to enter the lottery, that money will collect 8.5% interest if the Nano is delivered withing two years, and 8.75% if it takes longer than two years.

Gallery: Tata Nano

[Source: Telegraph India]REPORT: Tata selects first 100,000 Nano buyers from lotto originally appeared on Autoblog on Wed, 24 Jun 2009 10:33:00 EST. Please see our terms for use of feeds.

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I remember this company ... I thought they fell through.

It's a cheap car ... and looking at it ... you can see why.

I guess if your only other choise is a small motorcycle, the Tata might not be so bad.
I think its a cool accomplishment for what it is. There have been cars that were FAR worse...Remember, the main market is India...I have friends there and it should go over very well. I have a friend in Khasakstan and she has sent me pictures of some of the "cars"...WOW. If it rolls, its a car.
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