Black Market Hit Tata Nano too

Demand for the Tata’s wonder car Nano is expected to be 10 times the supply. Enter the black market, hundreds of black marketers have spread themselves across dealers
, banks and outlets to make hay while the Nano shines.

If any car is a hit at launch, industry sources indicate at least 10 per cent of cars sold are through the black market route.

The first time India witnessed such a hype was with the first Maruti 800, the initial premium was as high as 100 per cent. Maruti itself cashed in launching the 'tatkal' scheme during the old license permit raj days, which guaranteed quick delivery but at a 30 per cent premium.

We have seen similar premium being charged on Bajaj scooters, Tata trucks and even Maruti's diesel Swift Dzire, which in fact has a 4-6 month waiting period.

Experts say in the case of the Tata Nano, people may pay a premium but not over Rs 20,000 because today the buyer has more options.

"People would wait and watch and see the performance and the reaction of people. They will then buy, thus, black market will be marginal," said S P Shah, president, Federation of Automobile Dealers Association.

It is all going to boil down to just how many bookings the Nano gets. With the delivery fixed at 1 lakh cars once allotment begins in June, the black marketers are also expected to crawl right out of the woodwork with a 15-20 per cent premium that could even go to 40% if there is a demand frenzy.

source: ndtv.com