Tata rolls out world's cheapest car
Tuesday, 24 March 2009
MUMBAI, March 23 (AFP): India's Tata Motors Monday launched the world's cheapest car, the Nano, hoping to revolutionise travel for millions and buck a slump in auto sales caused by the global economic crisis.
Company boss Ratan Tata said the no-frills car, slated to cost just 100,000 rupees (2,000 dollars) for the basic model, will get India's middle-class urban population off motorcycles and into safer, affordable four-wheelers.
"I think we are at the gates of offering a new form of transport to the people of India and later, I hope, other markets elsewhere in the world," he said, describing the launch as a "milestone."
"The present economic situation makes it somewhat... more attractive to the buying public," he told reporters in Mumbai.
Hundreds of people, including journalists and company officials, were gathering here for the official unveiling ceremony at 7:30 pm (1400 GMT).
Bookings for the tiny car -- just over three metres (10 feet) long -- start on April 9 and end on April 23, Tata Motors managing director Ravi Kant said.
A ballot will then select 100,000 people to be the first to get the keys to the vehicle. Deliveries will start in early July 2009, he added.
Even affluent Indians are eyeing up the Nano, which has a two-cylinder engine, four-speed manual transmission and a top speed of 105 kilometres (65 miles) per hour.
It has no air conditioning, electric windows or power steering, but deluxe versions will be available.
"This is a value-for-money car," said Hasmukh Kakadia, 39, a Mumbai investment analyst.
"There's no safety in two-wheelers, especially with the whole family," said New Delhi resident Ganesh Khand, 38, who now has a motorbike but wants a Nano to be able to transport his wife and two daughters safely.
Company boss Ratan Tata said the no-frills car, slated to cost just 100,000 rupees (2,000 dollars) for the basic model, will get India's middle-class urban population off motorcycles and into safer, affordable four-wheelers.
"I think we are at the gates of offering a new form of transport to the people of India and later, I hope, other markets elsewhere in the world," he said, describing the launch as a "milestone."
"The present economic situation makes it somewhat... more attractive to the buying public," he told reporters in Mumbai.
Hundreds of people, including journalists and company officials, were gathering here for the official unveiling ceremony at 7:30 pm (1400 GMT).
Bookings for the tiny car -- just over three metres (10 feet) long -- start on April 9 and end on April 23, Tata Motors managing director Ravi Kant said.
A ballot will then select 100,000 people to be the first to get the keys to the vehicle. Deliveries will start in early July 2009, he added.
Even affluent Indians are eyeing up the Nano, which has a two-cylinder engine, four-speed manual transmission and a top speed of 105 kilometres (65 miles) per hour.
It has no air conditioning, electric windows or power steering, but deluxe versions will be available.
"This is a value-for-money car," said Hasmukh Kakadia, 39, a Mumbai investment analyst.
"There's no safety in two-wheelers, especially with the whole family," said New Delhi resident Ganesh Khand, 38, who now has a motorbike but wants a Nano to be able to transport his wife and two daughters safely.