Nano showroom and Nano loans

Hyderabad, July 16 (ANI): Tata Motors, India's leading auto major, has rolled out its first commercial consignment of Nano, the world's cheapest car, at Hyderabad. Residents in the Twin Cities of Hyderabad and Secunderabad had been eagerly waiting for the Tata Nano car, costing just over rupees one lakh.
They contended that this car is a boon for the middle class society.

NANO LOANS:
The Nano is set to hit the road in a matter of days. But for the close to 70,000 consumers who booked it through loans, there could be some bad news. Banks have turned cautious. Reason: the low ticket size of the loan that means higher cost of execution. Banks CNBC-TV18 spoke to said the cost of servicing a two-wheeler loan is as high as 25% and which is one reason many banks have been switching off from that segment. The ticket size for the Nano is between a two-wheeler and any other car, and the cost is working out to between 18–20%. And with the rate of interest around 10%, it is making little sense for banks to push these loans.

The bigger issue for banks is the tightening of internal norms they have been carrying out over the past few months. Several banks have been more keen to give loans only to customers of the bank. A leading PSU bank told CNBC-TV18 they are waiting for the car to be delivered before they extend the loan. Moreover, while few details were asked from consumers at the time of booking like a photo ID and residential proof, income and guarantor details are only now being sought prior to sanctioning the loan.

Bankers say many who have booked the Nano have a profile that matches that of a two-wheeler loan taker. And this is a segment from which several banks have turned away owing to higher defaults.

It is learnt that banks are in active dialogue with Tata Motors to avert a potential dispute considering the MoU signed between Tata Motors and banks stating that all loans need to be processed by July 23 else a penalty of Rs 3,000 on banks will be charged.

Moreover, banks are hoping for some financial support from Tata Motors. When contacted, Tata Motors said, "Banks will apply the same norms, including interest rates, for providing loans to Nano customers as that for their customers for any other car."
Source:moneycontrol.com

Know your Nano

After all the troubles and delays the worlds cheapest car, Tata's Nano has hit the roads! Tata Motors unveiled the car in January last year and received an overwhelming response both nationally and internationally. In Photo: The bonnet of a Tata Motors' Nano car is seen lifted at the company's plant in Pimpri, 160 km (100 miles) southeast of Mumbai, India. Engineers stripped away everything they could on Tata Nano, the $2,000 automobile designed for poor Indians, which goes on sale in India next month. The car is 10.2 feet (3.1 meters) long, 4.9 feet (1.5 meters) wide, and 5.6 feet (1.7 meters) high, and gets an impressive 55.5 miles to the gallon (23.6 kilometers per liter). Tata Motors says it emits 12 percent less carbon dioxide than two-wheelers made in India. The engine of the car is situated at the rear of the car.
Tata has rolled out 50 cars for now from it's Pantnagar factory in Uttranchal. The land disputes at its planned site in West Bengal and a subsequent transfer of its manufacturing facility to Sanand near Ahmedabad, in Gujarat, resulted in delaying the project by over six months. The bookings were opened in April this year. In Photos: Tata Group Chairman Ratan Tata, right, speaks as Gujarat state Chief Minister Narendra Modi looks on during a press conference after the signing of an agreement between the state government and Tata Motors, in Gandhinagar. The Nano, billed as the world's cheapest car, has found a new home in the Western state of Gujarat, after weeks of violent farmer protests forced Tata Motors to shutter its $350 million Nano factory in West Bengal.
Tata Motors has kept its promise of delivering the car to its first one lakh customers at the ex-showroom price of Rs 100, 000. In Photos: Tata Sons Chairman, Ratan Tata poses alongside the Tata Nano, at its launch in Mumbai, India. Tata Motors launched its snub-nosed, US$2,000 Nano, in Mumbai, a vehicle meant to put car ownership within reach of millions of the world's poor. The Nano, starting at about 100,000 rupees ($1,980), is 10.2 feet (3.1 meters) long, has one windshield wiper, a 623cc rear engine, and a diminutive trunk, according to the company's Web site.

NANO LAUNCHED, Tata Nano price

Tata Motors on Monday announced that the Tata Nano Standard version (BS2) will be priced at Rs 1 lakh (Rs 100,000) ex Factory Pantnagar (excluding transportation charges and VAT) thereby delivering on the promise made at the unveiling of the car at the Auto Expo in New Delhi last year on January 10, 2008.

The company announced the price at the launch ceremony in Mumbai this evening in the presence of Ratan N Tata, chairman of the Tata Group.

Prices: Ex-showroom

The prices of the three trim levels of the Tata Nano launched on Monday are:
Tata Nano Std (BS3 )
Ex Showroom PantNagar (Rs)120,960
Ex Showroom Delhi ( Rs)123,360
Ex Showroom Mumbai (Rs) 134,250

Tata Nano CX Solid Paint (BS3)
Ex Showroom PantNagar (Rs)145,725
Ex Showroom Delhi ( Rs)148,360
Ex Showroom Mumbai (Rs) 160,320

Tata Nano CX Metallic Paint (BS3)
Ex Showroom PantNagar (Rs)148,725
Ex Showroom Delhi ( Rs)151,360
Ex Showroom Mumbai (Rs)163,320

Tata Nano LX Metallic Paint (BS3)
Ex Showroom PantNagar (Rs)170,335
Ex Showroom Delhi ( Rs)172,360
Ex Showroom Mumbai (Rs)185,375



Trim level /Variant
Booking amount (Rs)
Tata Nano Std. ( BS2 and BS3)95,000
Tata Nano CX ( BS2 & BS3)120,000
Tata Nano LX ( BS3)140,000

The sale of application forms and acceptance of booking will start from April 9 till the end of day April 25.

The application forms will be available at a price of Rs 300, with a range of offers from select associate Tata Group companies. The application forms will be available at over 30,000 locations in about 1,000 cities through Tata Motors passenger car dealerships,

State Bank of India and its branches, its subsidiaries and associates, other preferred financiers, and outlets of Westside, Croma, 'World of Titan' and Tata Indicom exclusive stores.

Nano's European avatar revealed

Tata Motors showcased the Tata Nano Europa which is intended for a future launch in select international markets at the 79th Geneva Motor Show.
The Nano Europa encompasses additional features as compared to the car destined for India in order to make it more suitable for European driving conditions as well as meet European regulations.

Speaking on the occasion at the Geneva Motor Show, Ratan Tata, Chairman of Tata Sons and Tata Motors, said, "In India, the Nano will be launched on March 23, and the cars will be on display at company dealerships from the first week of April. The Nano has also generated wide interest in developed countries, since it's unveiling in Delhi and its presentation here last year. We are delighted to present the Nano Europa for future launch in such markets."

As compared to the version destined for India, the Nano Europa comes with a slightly longer wheelbase of 2.28 metres which marginally increases interior space. However unlike India, the Europa will come fitted with a 3 cylinder all aluminium MPFI engine mated to a 5 speed automatic gearbox.

The car will also have electric power steering. Tata promises that the Nano Europa, despite the larger engine, will continue to be extremely environmentally friendly and offer extremely low CO2 emissions - somewhere in the league of 100gm per kilometer. Safety has been increased on the Europa by offering the car with ABS, ESP and airbags.

Just like the Tata Nano, the Tata Nano Europa incorporates exterior compactness with interior comfort and seeks to provide motorists the pleasure and utility of personal mobility combined with affordability and environmentfriendliness , in a world where smaller, fuel-efficient cars are emerging as a preferred choice.
Source:economictimes.indiatimes.com/articleshow/4225967.cms

Want a Nano Hybrid?

Tata Nano is it the development stage with Delphi for manufacturing a component to save on fuel costs.It will be costlier by around Rs 3500 compared to a regular car.
It works like this - the moment the vehicle is stopped at a signal, the engine auto shuts off.When you press the clutch, it restarts the engine.
Thats a nice logic, saying we shall save billions of liters of fuel in traffic jams!
way to go NANO....