NEWS & ADVICE : CAR LOANS
Allotment letters for Nano to be soon received
By Vaibhav Aggarwal
Jun 23, 2009
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Tata Motors is set to announce the names of first one-lakh allotments for the Tata Nano cars.

A spokesman of the company said, "Tata Motors will announce the first 100,000 allotments for the Nano within 60 days of the closure of bookings on April 25, 2009."

Based on this, it is expected that Nano customers will start receiving the allotment letters this week onwards. The company is expected to conclude the entire delivering process by the end of next year, starting from early-July this year.

The bookings for Nano commenced from April 1, covering 30,000 locations across the country. The bookings were made through Tata Motors dealerships and other financial institutions. The company also entered into an exclusive tie-up with SBI for managing the bookings, which accounts for nearly 50% of the total Nano bookings (2.03 lakh).

The allotment will be made to first one-lakh customers, while the remaining 1.03 lakh applicants, would be allocated the car at a price higher than the current, and will earn interest on the booking fee with effect from July.

Nearly 50 percent of the bookings were made for the top-end LX variant, followed by CX variant at 30 percent, while remaining the base version accounts for only 20 percent of the bookings.

Presently, the company has one manufacturing plant located at Pantnagar. The plant has an output capacity of 50,000 cars per annum. The company plans to increase the capacity to 2.5 lakh units per annum with the establishment of its new plant at Sanand (Gujarat) by December this year.

 


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