Tata to Announce 1 Million Reservations for Nano in India

Tata Motors Ltd., the largest manufacturer of trucks in India and innovator of the soon-to-be available Tata Nano, is set announce the number of reservations it has received the world's cheapest car.

According to newspaper reports, the Tata may have received as many as one million orders for the estimated $2,000 vehicle. The official announcement is expected April 28.

Tata allowed reservations for the Tata between April 9-25. Orders won't be completed for more than a year and the automaker is guaranteeing the initial price of the car for only the first 10,000 vehicles sold.

Conceived in 2003, discussed for several years and six months delayed from its originally scheduled debut, the Tata Nano specifications are unique: It's a four-door, five-seat, 10-foot automobile with a 2-cylinder, 33-horsepower, 624cc engine.

It will have a five-speed (four forward) manual transmission. Buyers are first expected to take delivery in July.

Priced at 100,000 rupees (approximately $1,950), the base model Nano is available in red, yellow and silver and does not include airbags, air conditioning or power steering.