Tata Motors would insist on 100% (Rs 1 lakh) down payment for the Nano on booking.
The Nano will be sold through a lottery system. The booking forms would be available over the week with all its dealers, select SBI branches and all Tata group retail ventures, including Croma, Westside, Trent and Star Bazaar. The booking forms will cost Rs 300 only. Dream car Nano comes with a warranty of 18 months or 24,000 kms.
Customers can book with an upfront payment of Rs 2,999 between April 9 and 25. Those who are not allotted vehicles would be paid interest at the rate of 8.5 per cent for the first year and 8.75 per cent for the second year.
Three models of Nano would be launched viz Standard, CX and LX. It is the next revolution in automobiles after the legendary Model T, the Nano will be available in three variants – standard, deluxe and luxury. The base model will have no air-conditioning. The higher-end versions would have airconditioning, power brakes and power windows, among others facilities.
Tata Motors will produce more than 1 lakh cars in first year out of which about 50,000-60,000 cars to be manufactured at its Pantnagar plant.
According to figures, as many as 30,000 cars have been booked so far in 1,000 cities across the nation.
The launch of the Nano is a triumph of Indian designers and skilled workers who have demonstrated that Indian industry could be second to none when it comes to cost effective and innovative model involving use of indigenous technology.