Tata lottery selects first 100,000 Nano buyers

Tata lottery selects first 100,000 Nano buyers

Tata Nano fq

Interest in the world’s cheapest new car has been very strong, as Tata Motors reportedly received 206,000 applications for the $2,500 ($3,900 NZ) Nano. Due to production constraints, Tata ran a lottery to decide which of the applicants would receive one of the first 100,000 Nanos made, and the Indian automaker is informing the lucky “winners” in person.

The first 100,000 customers eligible to receive a Nano will receive their car by the end of 2010, with deliveries beginning in July. The first allotment of 100,000 Nanos will stay price protected to remain consistent with Tata’s press release in March. Of the 106,000 other Tata customers without a Nano on the way 51,000 chose to remove their names from contention for future Nano lotteries. Those customers will be offered discounts on other Tata products.

The remaining 55,000 customers that remain in contention for future Nano lotteries are also being offered discounts. Interestingly, since Tata collected a “booking fee” for the right to just enter the lottery, that money will collect 8.5% interest if the Nano is delivered withing two years, and 8.75% if it takes longer than two years.

Tata Nano fq

Interest in the world’s cheapest new car has been very strong, as Tata Motors reportedly received 206,000 applications for the $2,500 ($3,900 NZ) Nano. Due to production constraints, Tata ran a lottery to decide which of the applicants would receive one of the first 100,000 Nanos made, and the Indian automaker is informing the lucky “winners” in person.

The first 100,000 customers eligible to receive a Nano will receive their car by the end of 2010, with deliveries beginning in July. The first allotment of 100,000 Nanos will stay price protected to remain consistent with Tata’s press release in March. Of the 106,000 other Tata customers without a Nano on the way 51,000 chose to remove their names from contention for future Nano lotteries. Those customers will be offered discounts on other Tata products.

The remaining 55,000 customers that remain in contention for future Nano lotteries are also being offered discounts. Interestingly, since Tata collected a “booking fee” for the right to just enter the lottery, that money will collect 8.5% interest if the Nano is delivered withing two years, and 8.75% if it takes longer than two years.

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