The Nano, the world's cheapest car, will hit Indian roads in July, four months after its formal launch on Monday, and demand is expected to far outstrip supply as the price tag of around $2,000 draws legions of new buyers.
MUMBAI (Reuters) - The Nano, the world's cheapest car, will hit Indian roads in July, four months after its formal launch on Monday, and demand is expected to far outstrip supply as the price tag of around $2,000 draws legions of new buyers.
Hundreds of thousands are set to queue up to book, including motorbike owners and people who have been using public transport.
But launching six months behind schedule in a subdued market, with production in the first year severely constrained and the threat of further ratings downgrades hanging over the company, it will take over a year to deliver the first 100,000 cars.
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"We are at the gates offering a new form of transportation to the people of India, and later I hope other markets as well," Chairman Ratan Tata told a news conference.
"From the drawing board to its commercial launch, the car has overcome several challenges. I hope it will provide safe, affordable four-wheel transportation to families who till now have not been able to own a car," he said.
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