Tata Nano Gets Cash Discounts & Low Down Payment

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Tata Motors stung by a steep drop in its Nano small car is offering new discounts and new offers. You can now get a discount of up to Rs.20,000. Tata Motors has also reduced the down payment for the base model from Rs.35,000 to Rs.15,000. Debasis Ray, a spokesperson for Tata Motors has said these offers were only limited for a set period.

A Tata dealer from New Delhi has said the down payment is equivalent to the sum one needs to pay while buying a motorcycle. The Tata Nano is the world's cheapest car and yet its sales have not been very encouraging in the past few months.

Tata is also offering high tenure loans of up to sixty months so that the EMIs are low. The carmaker has already made special arrangements with financiers to facilitate these car loans.

The base model of the Tata Nano costs Rs.1,25,880 after discounts. This price is almost equal to the price of the Nano when it was launched in July 2009. The Nano cost Rs.1,23,360 when it was launched.

A company source has revealed the top management of Tata Motors had held discussions about the pricing of the Tata Nano. Dealers are sceptical about these offers and discounts translating in to sales. A dealer who did not want to be named said: “ The discounts and schemes have not been able to increase sales even for company"s diesel models like Indica and Indigo. I doubt it will help Nano, which is already priced competitively."

Analysts are predicting these offers and discounts will help push the Nanos sales above 10,000 units per month. It remains to be seen if the Nano will perform as per the expectations of Tata Motors.

Story first published: Tuesday, August 23, 2011, 15:17 [IST]
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