The Tata Nano has drawn over 2.03 lakh fully paid bookings amounting to nearly Rs.2,500 crores, in an encouraging response to the car launched on 23rd March.
The Tata Nano website recorded an unprecedented 3 crore (30 million) hits from the date of launch of the car to the closure of the booking period (25th April, 2009), nearly 1 million hits a day. About 14 lakh people walked in to Tata Motors Showrooms, Croma and Westside stores across the country to catch a glimpse of the car. A total of 6.10 lakh forms were purchased from the booking centres. 70% of the 2.03 lakh bookings received were financed, while 30% of the applicants booked in cash by paying fully. About 4,000 cash bookings were made online through www.tatanano.com, a first for the auto industry in India. Among the three variants of the car, 20% bookings are for the Nano Standard, 30% for the Nano CX and the remaining 50% for the top-end Nano LX.
As announced on 23rd March, the first 100,000 allottees from among the applicants will be chosen through a computerised random selection procedure, and the announcement will be made within 60 days of closure of the booking. Deliveries will start in July 2009, and are expected to be completed in the last quarter of 2010, while all efforts would be made to ramp up production and deliver earlier.
Simultaneously along with the announcement of the first 1 lakh successful allottees, Tata Motors will also announce the allotment of those booking applicants who have expressed their interest in retaining their bookings with the company even if they do not form part of the first 1 lakh allottees. The retainees will earn an interest on their booking amount, effective from that date. The booking amounts of unsuccessful applicants who have not chosen to retain their booking amounts will be refunded at the same time.
Tata Motors places on record its gratitude to the people of India for according such a warm welcome to the Tata Nano, and to all its preferred financiers, dealers and partner companies in making the Tata Nano far more accessible.
Showing posts with label booking no. Show all posts
Showing posts with label booking no. Show all posts
Tata Nano debuts with 1 millon requests; watch out Toyota Corolla
As the following lists detail, the best-selling vehicle in history is the Toyota Corolla, with more than 32 million units sold. The 50th best-selling car in history is the Peugeot 405 with 3.5 million units sold. The best-selling vehicle in 2008 was the Ford F-Series truck
with 515,513 units sold. It's also the second best-selling vehicle of all-time.
If the Tata Nano continues at its current initial popularity, how high could it advance on the all-time list?
The Top-10 Best-Selling Cars In History
1. Toyota Corolla - 32,000,000+units
Introduced in 1966, the Corolla is produced in five continents by Japanese automaker.
2.Ford F-Series - 30,000,000+units
Introduced 1948, it's the top-selling truck of all-time, remarkable since it's sold only in the United States.
3. Volkswagen Golf - 25,000,000+units
Launched by the German automaker in 1974, it's now in its sixth generation.
4. Volkswagen Beetle - 22,300,000+units
The first model was produced by German automaker in 1938 at the request of the Nazi government.
5. Ford Escort - 20,000,000+units
The iconic brand, produced 1968-2000 was particularly popular in Europe.
6. Honda Civic - 17,730,000+units
The value-priced Civic has been produced since 1972 and is now in its eighth generation.
7. Ford Model T - 16,500,000+units
Named the most influential car of the 20th century, it was made from 1909-1927.
8.Volkswagen Passat - 14,100,000+units
Made since 1973, the Passat is in its sixth generation and has been sold under seven names.
9. Chevrolet Impala - 14,000,000+units
Offered since 1958, it's considered the first luxury car for the middle class.
10. Ford Fiesta - 12,500,000+units
Sold worldwide since 1976, it's manufactured by Ford Europe, a Ford Motor Company subsidiary.
The Top 10 Best-Selling Cars of 2008
1. Ford F-Series: 515,513; 2. Chevy Silverado: 465,065; 3. Toyota Camry: 436,617; 4. Honda Accord: 372,789; 5. Toyota Corolla: 351,007; 6. Honda Civic: 339,289; 7. Nissan Altima: 269,668; 8. Chevy Impala: 265,840; 9. Dodge Ram: 245,840; 10. Honda CR-V: 197,279.
with 515,513 units sold. It's also the second best-selling vehicle of all-time.
If the Tata Nano continues at its current initial popularity, how high could it advance on the all-time list?
The Top-10 Best-Selling Cars In History
1. Toyota Corolla - 32,000,000+units
Introduced in 1966, the Corolla is produced in five continents by Japanese automaker.
2.Ford F-Series - 30,000,000+units
Introduced 1948, it's the top-selling truck of all-time, remarkable since it's sold only in the United States.
3. Volkswagen Golf - 25,000,000+units
Launched by the German automaker in 1974, it's now in its sixth generation.
4. Volkswagen Beetle - 22,300,000+units
The first model was produced by German automaker in 1938 at the request of the Nazi government.
5. Ford Escort - 20,000,000+units
The iconic brand, produced 1968-2000 was particularly popular in Europe.
6. Honda Civic - 17,730,000+units
The value-priced Civic has been produced since 1972 and is now in its eighth generation.
7. Ford Model T - 16,500,000+units
Named the most influential car of the 20th century, it was made from 1909-1927.
8.Volkswagen Passat - 14,100,000+units
Made since 1973, the Passat is in its sixth generation and has been sold under seven names.
9. Chevrolet Impala - 14,000,000+units
Offered since 1958, it's considered the first luxury car for the middle class.
10. Ford Fiesta - 12,500,000+units
Sold worldwide since 1976, it's manufactured by Ford Europe, a Ford Motor Company subsidiary.
The Top 10 Best-Selling Cars of 2008
1. Ford F-Series: 515,513; 2. Chevy Silverado: 465,065; 3. Toyota Camry: 436,617; 4. Honda Accord: 372,789; 5. Toyota Corolla: 351,007; 6. Honda Civic: 339,289; 7. Nissan Altima: 269,668; 8. Chevy Impala: 265,840; 9. Dodge Ram: 245,840; 10. Honda CR-V: 197,279.
Tata Nano might just receive 6-8 lakh bookings
Market sources are now pointing out that Tata Motors might just get around 6-8 lakh bookings for their recently launched small car Tata Nano.
Experts had previously estimated that the company would be able to book around 10 lakh cars in the first round.
This would still be good enough as the company would collect over Rs 700 crore on bookings alone.
This would in addition to Rs 24 crore which are expected to be generated from the sales of the booking forms.
There is still hope that the numbers would be impressive as the company aims to start delivering the vehicles from July this year.
Experts had previously estimated that the company would be able to book around 10 lakh cars in the first round.
This would still be good enough as the company would collect over Rs 700 crore on bookings alone.
This would in addition to Rs 24 crore which are expected to be generated from the sales of the booking forms.
There is still hope that the numbers would be impressive as the company aims to start delivering the vehicles from July this year.
Tata Motors’ debt worries
Tata Motors that made an audacious buyout of Jaguar Land Rover two years back may have bitten off more than it can chew. Its debt numbers seem to be piling up and even as credit conditions have improved, the going may be tough.
Well, life is moving beyond the Nano for Tata Motors. The company's top management is thinking overtime to manage its multi billion dollar debt. According to sources, in the last few months the Tata group have been forced to raise money for the payments of Jaguar Land Rover, a firm they bought at the peak of the bull run.
Some analysts peg the debt figure at Rs 30,000 crore saying that the debt has been slowly rising over quarters for Tata Motors and averaging at the said amount.
Now, the group is in the market again to raise money, this time through bonds. Meanwhile, some analysts feel that the Tata group have no securities to offer and so a bond issue is the only option.
Mahentesh Sabarbad, Auto Analyst at Centrum Broking, said, “Today Tata Motors’ balance sheet is so stretched that it is apparent to me that they don’t have any securities to offer. So, they are going in for an SBI backed guarantee, which turns out to be a win-win situation for all the three parties.
The company’s current debt is double the equity of the firm and they have to not only payback bridge loan, but also worry about feeding working cap into JLR and have to take the next pension fund deficit call at JLR.
Meanwhile, struggling to find avenues to refinance the high cost debt taken to acquire JLR, Tata Motors is now hoping to tap into the increased appetite for corporate bonds. But questions over the company's ability to manage the huge debt linger.
Well, life is moving beyond the Nano for Tata Motors. The company's top management is thinking overtime to manage its multi billion dollar debt. According to sources, in the last few months the Tata group have been forced to raise money for the payments of Jaguar Land Rover, a firm they bought at the peak of the bull run.
Some analysts peg the debt figure at Rs 30,000 crore saying that the debt has been slowly rising over quarters for Tata Motors and averaging at the said amount.
Now, the group is in the market again to raise money, this time through bonds. Meanwhile, some analysts feel that the Tata group have no securities to offer and so a bond issue is the only option.
Mahentesh Sabarbad, Auto Analyst at Centrum Broking, said, “Today Tata Motors’ balance sheet is so stretched that it is apparent to me that they don’t have any securities to offer. So, they are going in for an SBI backed guarantee, which turns out to be a win-win situation for all the three parties.
The company’s current debt is double the equity of the firm and they have to not only payback bridge loan, but also worry about feeding working cap into JLR and have to take the next pension fund deficit call at JLR.
Meanwhile, struggling to find avenues to refinance the high cost debt taken to acquire JLR, Tata Motors is now hoping to tap into the increased appetite for corporate bonds. But questions over the company's ability to manage the huge debt linger.
Tata Motors fails to achieve one million booking of Nano car
Tata Motors has failed to achieve one million booking of Nano car. It must have come as a disappointment for the company. Nano, the company believed would open the floodgate of orders from millions of Indians living in semi urban and rural areas for whom owning a car was just a dream.
The company is trying hard to make sure it doesn’t disappoint its shareholders, with an almost Rs 1,00,000 booking amount for its People’s Car TATA Nano they haven’t got as many bookings as they would have expected. Now TATA Motors is giving more options in terms of loans and also advising its financial arm to not to be too strict on loans.
Also one more factor which has prevented bulk booking of the Nano is PAN card, TATA Motors has announced that Nano will be limited to one car per PAN number. And PAN card is mandatory while taking delivery of TATA Nano.
Many of the brokers who usually buy newly launched cars in bulk are also cautious about the delivery time which could make their money locked with TATA Motors for upto an year without any interest.
There are reports that say that Tata Motors sees 6-8 lakh bookings overall as against the initial expectation of over 10 lakh bookings. Analysts say the company will mop up over Rs 700 crore on bookings alone. Tata Motors, moreover, will also collect Rs 24 crore through the sale of more than 8 lakh forms.
The company is trying hard to make sure it doesn’t disappoint its shareholders, with an almost Rs 1,00,000 booking amount for its People’s Car TATA Nano they haven’t got as many bookings as they would have expected. Now TATA Motors is giving more options in terms of loans and also advising its financial arm to not to be too strict on loans.
Also one more factor which has prevented bulk booking of the Nano is PAN card, TATA Motors has announced that Nano will be limited to one car per PAN number. And PAN card is mandatory while taking delivery of TATA Nano.
Many of the brokers who usually buy newly launched cars in bulk are also cautious about the delivery time which could make their money locked with TATA Motors for upto an year without any interest.
There are reports that say that Tata Motors sees 6-8 lakh bookings overall as against the initial expectation of over 10 lakh bookings. Analysts say the company will mop up over Rs 700 crore on bookings alone. Tata Motors, moreover, will also collect Rs 24 crore through the sale of more than 8 lakh forms.
Tata Nano debuts with 1 millon requests; watch out Toyota Corolla
As the following lists detail, the best-selling vehicle in history is the Toyota Corolla, with more than 32 million units sold. The 50th best-selling car in history is the Peugeot 405 with 3.5 million units sold. The best-selling vehicle in 2008 was the Ford F-Series truck
with 515,513 units sold. It's also the second best-selling vehicle of all-time.
If the Tata Nano continues at its current initial popularity, how high could it advance on the all-time list?
The Top-10 Best-Selling Cars In History
1. Toyota Corolla - 32,000,000+units
Introduced in 1966, the Corolla is produced in five continents by Japanese automaker.
2.Ford F-Series - 30,000,000+units
Introduced 1948, it's the top-selling truck of all-time, remarkable since it's sold only in the United States.
3. Volkswagen Golf - 25,000,000+units
Launched by the German automaker in 1974, it's now in its sixth generation.
4. Volkswagen Beetle - 22,300,000+units
The first model was produced by German automaker in 1938 at the request of the Nazi government.
5. Ford Escort - 20,000,000+units
The iconic brand, produced 1968-2000 was particularly popular in Europe.
6. Honda Civic - 17,730,000+units
The value-priced Civic has been produced since 1972 and is now in its eighth generation.
7. Ford Model T - 16,500,000+units
Named the most influential car of the 20th century, it was made from 1909-1927.
8.Volkswagen Passat - 14,100,000+units
Made since 1973, the Passat is in its sixth generation and has been sold under seven names.
9. Chevrolet Impala - 14,000,000+units
Offered since 1958, it's considered the first luxury car for the middle class.
10. Ford Fiesta - 12,500,000+units
Sold worldwide since 1976, it's manufactured by Ford Europe, a Ford Motor Company subsidiary.
The Top 10 Best-Selling Cars of 2008
1. Ford F-Series: 515,513; 2. Chevy Silverado: 465,065; 3. Toyota Camry: 436,617; 4. Honda Accord: 372,789; 5. Toyota Corolla: 351,007; 6. Honda Civic: 339,289; 7. Nissan Altima: 269,668; 8. Chevy Impala: 265,840; 9. Dodge Ram: 245,840; 10. Honda CR-V: 197,279.
with 515,513 units sold. It's also the second best-selling vehicle of all-time.
If the Tata Nano continues at its current initial popularity, how high could it advance on the all-time list?
The Top-10 Best-Selling Cars In History
1. Toyota Corolla - 32,000,000+units
Introduced in 1966, the Corolla is produced in five continents by Japanese automaker.
2.Ford F-Series - 30,000,000+units
Introduced 1948, it's the top-selling truck of all-time, remarkable since it's sold only in the United States.
3. Volkswagen Golf - 25,000,000+units
Launched by the German automaker in 1974, it's now in its sixth generation.
4. Volkswagen Beetle - 22,300,000+units
The first model was produced by German automaker in 1938 at the request of the Nazi government.
5. Ford Escort - 20,000,000+units
The iconic brand, produced 1968-2000 was particularly popular in Europe.
6. Honda Civic - 17,730,000+units
The value-priced Civic has been produced since 1972 and is now in its eighth generation.
7. Ford Model T - 16,500,000+units
Named the most influential car of the 20th century, it was made from 1909-1927.
8.Volkswagen Passat - 14,100,000+units
Made since 1973, the Passat is in its sixth generation and has been sold under seven names.
9. Chevrolet Impala - 14,000,000+units
Offered since 1958, it's considered the first luxury car for the middle class.
10. Ford Fiesta - 12,500,000+units
Sold worldwide since 1976, it's manufactured by Ford Europe, a Ford Motor Company subsidiary.
The Top 10 Best-Selling Cars of 2008
1. Ford F-Series: 515,513; 2. Chevy Silverado: 465,065; 3. Toyota Camry: 436,617; 4. Honda Accord: 372,789; 5. Toyota Corolla: 351,007; 6. Honda Civic: 339,289; 7. Nissan Altima: 269,668; 8. Chevy Impala: 265,840; 9. Dodge Ram: 245,840; 10. Honda CR-V: 197,279.
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.
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.
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