'Refreshed' Nano in the Works: Ratan Tata
The Tata Nano was originally meant to be the worlds cheapest car at Rs. 1 lakh. However due to several reasons, it failed to live up to that image. And now, Tata Motors Chairman, Ratan Tata has announced that a 'refreshed' versions of the car is in the works so that its full potential may be realised. Among the chief reasons given for the disproportionate sales of the car; the major factor that came into play was that Tata Motors was simply not prepared to market the car as it should have been marketed. The other reason cited by Tata for this condition was loss of momentum due to plant transfer issues, poor advertising campaigns and lack of a proper dealership network.
Tata stated yet another reason for the disproportionate sales volumes; "The next issue was when it went on the roads, we had an order with payments for 3,20,000 vehicles, which would have taken from zero ramping up 18 months to do. So we decided we would restrict the orders to 1,00,000 and we would have a lucky draw to decide who got the vehicle.” After the initial 1,00,000 units were sold, the interest in the car naturally died out. Tata Motors was unprepared with a lack of advertising campaigns and insufficient dealership network. When asked about the plans for the 'refreshed' Nano, Tata Motors stated, "With focused initiatives to increase reach and penetration, by appointing Nano exclusive dealers, the company is targeting rural customers to drive growth."
Source - ET
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