Tata Group Chairman, Mr Ratan N. Tata, announced the launch of the car,
the 623 cc model has been priced at Rs 1 lakh and not more. He said in spite of the fact that the price of steel, rubber and other sundry inputs had gone up during the last four years when the announcement was made, Tata Motors decided to keep the price at Rs 1 lakh at dealers sites. "Because promise is a promise," Mr Tata announced at the launch during the 9th Auto Expo.
The price is expected to be between Rs 1.27 lakh and Rs 1.30 lakh after taking into account transportation costs as well as 12.5 per cent VAT. Nano has passed all crash tests and is also Euro IV compliant though either of these norms are still not applicable for any of the cars in India.
The development cost of the Nano project was around Rs 1,700 crore, very similar to the development cost the company had incurred for the Indica. Mr Girish Wagh, who authored the highly-popular light commercial vehicle, the Tata Ace, also headed the small car project.
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| Posted : 1/11/2008 |
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