The Hindu : Business : Tata Motors selects first one lakh Nano owners

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Wednesday, Jun 24, 2009
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Tata Motors selects first one lakh Nano owners

Special Correspondent

Owners will get the car at the announced price
Makes retainees offer on Tata Indica range

MUMBAI: Tata Motors has selected the first 100,000 owners of the Tata Nano from among the 206,703 final list of applicants who had booked the car. The company had announced at the Nano launch on March 23 that the first 100,000 owners would be selected through a computerised random selection process.

The booking process had given applicants the option to indicate whether they would like to retain their booking amounts with the company, even if they do not figure among the first 100,000 allottees and await delivery of their cars. Of these, 67 per cent or 137,867 applicants had chosen this option, from which a further 55,021 retainees have been made allotments. The booking amounts of the unsuccessful applicants, who had not exercised this option, are being returned.

Deliveries will begin from July and the first 100,000 deliveries are expected to be completed by the last quarter of 2010. Tata Motors reconfirmed that the first 100,000 owners are price-protected and will get their Tata Nano at the ex-showroom prices, announced at the launch on March 23.

The retainees will benefit from an interest of 8.5 per cent on their booking amount if the car is delivered within two years from the date of allotment (June 23, 2009) and 8.75 per cent if the car is delivered after two years from the date of allotment. The interest will be paid directly to the retainees.

Along with the confirmatory letter, Tata Motors is making retainees an offer on the Tata Indica range over and above any current scheme on these cars in the market, in addition to discount vouchers of Titan and Westside which can be used at any outlet of these companies across India. The company is also making unsuccessful applicants a similar offer on the Tata Indica range.

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