Half a million orders received for Tata Nano

Half a million orders received for Tata Nano

Tata Nano fq

The Nano is off to a cracking start, with maker Tata reportedly receiving 500,000 purchase application forms since the car went on sale April 9. Tata Motors sent out order forms to 30,000 locations throughout India, and charged 300 rupees ($10.00 NZD) to anyone that filled out the form. Tata Motors has generated the equivalent of $5 million NZD so far, and interested parties have until April 25 to order their own Nano. The company is expecting between 750,000 and one million orders by the deadline, giving the Indian automaker up to $11 million in income without even making a vehicle. The State Bank of India, which has about 25% of the total orders to date, will finance the Nano for up to seven years at interest rate of 10%.

One million pre-order applications is a mighty impressive sum for the $4,500 NZ micro car, and it’s a number that Tata Motors won’t come close to hitting in the Nano’s initial batch. Tata will only fill 100,000 orders in the first production cycle, and it intends to hold a raffle to see which of the orders will get filled.

Tata Nano fq

The Nano is off to a cracking start, with maker Tata reportedly receiving 500,000 purchase application forms since the car went on sale April 9. Tata Motors sent out order forms to 30,000 locations throughout India, and charged 300 rupees ($10.00 NZD) to anyone that filled out the form. Tata Motors has generated the equivalent of $5 million NZD so far, and interested parties have until April 25 to order their own Nano. The company is expecting between 750,000 and one million orders by the deadline, giving the Indian automaker up to $11 million in income without even making a vehicle. The State Bank of India, which has about 25% of the total orders to date, will finance the Nano for up to seven years at interest rate of 10%.

One million pre-order applications is a mighty impressive sum for the $4,500 NZ micro car, and it’s a number that Tata Motors won’t come close to hitting in the Nano’s initial batch. Tata will only fill 100,000 orders in the first production cycle, and it intends to hold a raffle to see which of the orders will get filled.

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