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Tata Nano's flying out the door

 

More than 203,000 orders have been received for the Tato Nana in India

More than double the number of cars that will be made in the initial production run have been pre-ordered.

Now the recipients of the ultra-cheap 100,000 Nanos will be decided by a lottery.

The value of the orders is 25 billion rupees (approx. NZ$873,264,202).

According to official figures from Tata, 70 per cent of the orders were placed on finance, and 30% were fully paid. Of the fully paid bookings, around 4000 were made through the company's website.

Of the bookings, 20% were for the Nano Standard, 20% for the Nano CX and 50% for the top-end Nano LX.

Deliveries will start in July 2009, and are expected to be completed in the last quarter of 2010. However, Tata has pledged it will make all efforts "to ramp up production and deliver earlier."

The value of the bookings made for the Tata Nano is $101 million (£67 million). Buyers who do not succeed in the lottery but still want a car will be paid interest on their deposit, while those who drop out of the scheme will have their money refunded.

Read more about the Tato Nano here.


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