Ratan Tata on Thursday delivered on the promise he made four years ago with the launch of the “people’s car”, even if buyers will have to fork out a little more than the much-talked about Rs 1 lakh price tag for the basic model.
They will have to pay an additional 12.5 per cent value added tax, transportation cost and an insurance charge. But that will still be about half the cheapest car in today’s market, the 25-year old model from rival Maruti Suzuki.
Christened Tata Nano, the four-seater will be available in the market by the second half of this financial year in three variants, including one with an air-conditioner.
Tata Nano will be have a 623 cc/33 bhp rear-mounted petrol engine and the “boot” (storage space) in the front. The car will be sold with a four-speed manual transmission, but work is on for an automatic transmission as also for a diesel engine,
Tata said, after he unveiled the car at the Auto Expo in New Delhi.
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