Nano sales low, belie early hype
Bookings for the Tata Nano may be officially closed, but it is not that difficult to get hold of the world's cheapest car. The Nano is not only readily available, with dealers holding unsold stocks, but it also hit the used car market around three months ago. HT reports.autos Updated: Apr 30, 2010 01:53 IST
Bookings for the Tata Nano may be officially closed, but it is not that difficult to get hold of the world's cheapest car.
The Nano is not only readily available, with dealers holding unsold stocks, but it also hit the used car market around three months ago.
Further, a new Nano does not carry any premium in the market, while you can get a one-month-old Nano in fairly mint condition at a 15 per cent discount.
"Just a few days back, we sold an almost brand new car in Delhi for about Rs 1.25 lakh for the model that costs around Rs 1.45 lakh in the showroom," said Rajeev Dubey, President (HR, After Market and Corporate Services), Mahindra and Mahindra.
Usually, the price of a car in the used car market goes up when there is a demand-supply mismatch for its brand new counterparts.
Toyota's best selling Fortuner, for example, carried a premium of upto Rs 50,000 in some cities in the first two months of its launch, as there was a huge waiting list for the vehicle. Similarly the Maruti 800 carried a huge premium for the first five years after it was launched in the 1980s.
Tata's own used car subsidiary, Tata Motors Assured, has also sold three used Nanos so far. "We sold the cars, which we bought at the same price the customer bought it for, and sold at the same price as well," said Debasis Ray, spokesman, Tata Motors.
A random check at Tata Motor's dealerships revealed a new Nano is also not that difficult to get.
"The bookings of the Nano are closed but if you are willing to become the co-owner of a new car, then you can get it in two days," said a sales executive at one of the dealerships. Full transfer of the car takes place in 30 days and costs Rs 3,200.
"Customers had booked in bulk on speculation of a premium but now, do not want to take the vehicle and instead have asked us to sell the cars at the same price at which they were bought."