Tata Motors Says Bookings for Nano to Start in April (Update1)
By Vipin V. Nair
Feb. 26 (Bloomberg) -- Tata Motors Ltd., the maker of Jaguar and Land Rover luxury vehicles, will start accepting bookings for the Nano, the world’s cheapest car, in the second week of April.
The automaker will display the Nano at dealerships from the first week of April, Tata Motors said in a statement today. The Mumbai-based company will elaborate on the booking process on March 23, it said.
Tata Motors unveiled the Nano last year aiming to sell the car at 100,000 rupees ($1,988), almost half the price of the next-cheapest model in the country. Chairman Ratan Tata’s plan to begin sales of Nano from the last quarter of 2008 got delayed as the company had to relocate its factory because of protests by farmers about acquisition of agricultural land.
The company, also India’s largest maker of trucks and buses, will sell the Nano in Europe for 5,000 euros ($6,347), Bild said, citing an interview with Tata. The carmaker will present the European version of the Nano next month at the Geneva car show, the newspaper said.
Tata Motors gained 2.6 percent to 143.75 rupees at 1:15 p.m. on the Bombay Stock Exchange. The shares have declined 10 percent this year, extending last year’s 78 percent slump.
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