Low priced Nano now available at a meager down payment of Rs15,000

The country's largest automobile manufacturer, Tata Motors had launched the world's cheapest car Tata Nano which became quite popular as the 'one lakh car'. The pride of domestic engineering, though few of its parts are imported, had led to an immediate success for this low priced car. Ratan Tata, President of Tata Motors has made the nation proud by offering the small car at an economical price that offered many features that include safety, all-weather resistant, easily approachable by the commoners, dependable and big on fuel efficiency to target the Indian low-income group. However, the targeted low income group is basically the motorcycle buyers, due to which, the Tata Nano has implemented another strategy to offer the consumers.

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This category of people can now buy the small car making a down payment as low as Rs 15,000 for the base variant of Tata Nano is most likely to increase the sales in the motorcycle buyers' segment. The Tata Nano price in the car market is in the range of 1.44 lakhs – 2.08 lakhs. The installments for the base variant can be made in a tenure of 5 years, with an EMI of Rs 3,324 for its base variant. The Tata Nano CX can be bought by making a down payment of Rs 22, 000 and with an EMI of Rs 3,910 for a period of 5 years. The LX variant is available on a down payment of Rs 24,000 by making the monthly installments of Rs 4,493 in five years duration.

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The Tata Nano, ever since its launch had become a favorite in the car market as a small family car for the common people in India. Later, the Tata Motors were unable to retain the success story of the Tata Nano, with many political issues interfering with the production of Tata Nano. The Tata Nano was launched in the Indian car market in April 2009, though its bookings had started since that March itself. The opposition leader in West Bengal at that time, Mamata Banerjee had started a revolution against the Tata Motor's production plant in Singur, West Bengal, which had forced the auto company to move its manufacturing plant to Pant Nagar, Uttarakhand. However, subsequently, the facility had been set up in Sanand, Gujarat. The Tata Nano that managed to meet their target sales of 20,000 bookings per month had come down to mere 3000 units. Despite many promotional activities held that includes the advertisement campaigns held to ramp up its sales by attracting the consumers, the small car was not able to meet up to its initial sales figures. Though, the Tata Motors have gone to an extent, offering zero percent interest on the loans, things did not work out the way the auto manufacturing company had envisaged.

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The Tata Motors have come up with many plans like setting up the Special Nano Access Point (SNAP) to make its way into the rural areas as well. The Indian automobile manufacturers had tried their best to make use of the distributors of Tata's commercial vehicle wing to offer Tata Nano in their sales outlets in every nook and corner of the country, apart from forming a dedicated Tata Nano dealers' network to increase its sales multi-fold. Now, despite the efforts put up by the Tata Motors, will Tata Nano manage to come back on track ramping up its sales, the way the company has visualized, yet remains to be seen.

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