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World's Cheapest Car Set For Launch In India

 

Updated : Mar 24, 2009

The Tata Motors Nano, the world's cheapest car at around €1,500, will hit Indian roads in July with demand set to far surpass supply. Hundreds of thousands are expected to put their name down for a Nano following its formal launch today.

"We are at the gates offering a new form of transportation to the people of India, and later I hope other markets as well," Chairman Ratan Tata told reporters. "From the drawing board to its commercial launch, the car has overcome several challenges. I hope it will provide safe, affordable four-wheel transportation to families who till now have not been able to own a car," Mr Tata said.

A European variant will be launched in 2011, and the company is also looking at the United States as the economic situation has made low-cost cars even more attractive, Tata said. Volkswagen, Toyota, Honda and Fiat are not far behind though, each are eyeing the low-cost car sector, while Renault/Nissan are already set to launch the Bajaj in 2011 which will cost $2,500.

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