Mumbai: Tata Motors is taking a minor price increase on the Nano, the world’s cheapest car. The hike is effective from 1November 2010, to partially neutralise the steep increase in input costs in the last two years. The average increase is about Rs9000 (ex-showrooms), with prices varying from city to city and model to model.
As of now, Tata Motors has announced open sales of the Tata Nano in the states of Kerala (since August 2010) and Karnataka, Maharashtra, Uttar Pradesh and West Bengal (since October 2010).
The company has tied up with 39 banks, non-banking finance companies (NBFCs), co-operative and gramin banks to offer customers with loans for purchasing the Tata Nano at attractive rates of interest. More such arrangements are in process. As a result of these tie-ups, the Tata Nano can be owned at an equated monthly instalment (EMI) of less than Rs. 3000.