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Tata picks first 100,000 budget car Nano owners
Tata Motors on Tuesday has selected the first 100,000 people who would own Nano - the budget car - in the first phase of allotment. Deliveries are scheduled to start next month and completed by 2010.
- Agencies
- Published: 08:42 June 24, 2009
New Delhi: Tata Motors on Tuesday has selected the first 100,000 people who would own Nano - the budget car - in the first phase of allotment. Deliveries are scheduled to start next month and completed by 2010.
A statement issued by the company said that it used a "computerised random selection process" to decide on the first batch of applicants with bookings being more than double to company's original delivery schedule of 100,000 units.
The selected applicants will be contacted individually, the statement said. Tata also said that 55,021 applicants out of the 106,703 who had not been selected in the first phase had exercised the option of retaining their booking. They will be given preferential allotment in the second phase.
Additionally, they will be entitled to an interest of 8.5 per cent on the booking amount if the car is delivered within two years (June 23, 2011), and 8.75 per cent after that date. The booking amounts of the unsuccessful applicants shall be returned, the statement added.
The company will also be offering the unsuccessful applicants "an exciting offer on the Tata Indica range", the statement added.
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