Tata Nano Records All-Time Low Sales Figures In India

Nano, the country's cheapest car was a troubled product for Tata Motors for the past several years. The company strived hard to change the fortunes of the loss-making product. But it seems like it is getting bad to worse for the automaker.

In the month of March 2017, the Nano recorded its all-time low sales figures since its launch. Tata Motors manages to sell only 174 units of the mini car in the country.

In the last financial year, Tata Motors retailed only 7,591 units, which is the worst year for the mini car since its inception. Nano managed to post sales figures for more than 1,000 units twice in 2016-17.

But Tata Motors is now focusing on the next-generation products, which will also create new segments for the company. The current-gen models will be either phased out or replaced progressively.

The demand for Nano slumped at a time when its production facility in Gujarat made way for the Tigor and Tiago. Both the models are selling around 9,000 units a month, more than the annual sales of Nano.

Launched back in 2009, the Nano will complete ten years in the market next year. Initially, the car became popular in the country with its price tag of Rs 1 lakh which was targeted towards the middle-class buyer.

However, Tata Motors made subtle changes to the car in its updated iteration, and the price almost doubled. From then on, the sales of the car slumped as its competitors launched value for money products.

Tata Motors also had a vision of transforming Nana into a smart city car. It was also reported that Nano electric car is in the works. But nothing happened, and the future of the Nano looks bleak.

Via MoneyControl