Nano Bookings may hit 10 -lakh mark

Bookings for the Nano draw to a close on Saturday (April 25) and indications are that Tata Motors will announce the final tally early next week.

Within industry circles, the general consensus is that there will be close to 10-lakh bookings, which will possibly make it the highest in the history of the Indian automobile industry.

Customers have a range of options for booking the car, be it procuring a loan from one of the banks associated with the plan or paying online.

Sources say that a “sizable chunk” coughed up the entire down-payment (ranging from Rs 95,000 to Rs 140,000) without seeking any financial assistance. This is particularly true for smaller cities and towns and possibly explains why a section of public sector banks handling the applications said the number of loan seekers was little to write home about.
Delivery pangs

“There is an enormous level of aspiration for the Nano, but potential customers are equally apprehensive about the waiting period,” sources said. The acid test for Tata Motors is timely delivery of the car.

There will be a draw of lots for the first one lakh customers, while only 50,000 cars will be produced this fiscal from an interim plant in Pantnagar, Uttarakhand. It is only during 2010-11 that bigger volumes of over two lakh units can be envisaged from the Sanand facility in Gujarat. Till then, buyers will just have to grin and bear it.

It is also a happy coincidence that the Maruti 800 is gradually being phased out from 2010 for reasons of emissions compliance (Bharat Stage 4), even though this will only be in 11 metros.

source: thehindubusinessline.com