When Tata Motors announced world’s cheapest car with a price tag of under Rs. 1lakh, many people compared the vehicle to a three wheeler. When car was unveiled to the world, people appreciated the technology and research done by TATA for bringing the low cost car even though it was hard to spot Nanos on road.
As days passed, Tata silently spiked the price of Nano and today the retail price of the car has reached Rs. 1.5 lakhs (ex-showroom) which caused people to think about other pre-owned cars especially Maruti Alto. The price hike further depreciated the sales of the vehicles and Tata think tank went back to drawing board to re-draw the strategy.
Tata now has started offering exchange bonus with the car, now the popular manufacturer will give give and additional Rs. 25,000 bonus for 4 wheeler and Rs. 20,000 on a 2-wheeler, in addition to the resale value of the car.
So, the car that carries a sticker price of Rs. 1.5 lakh, a price drop of 20-25k will be an attractive deal for many first buyers.