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Tata to offer loans on the Nano (IN)

The loans can be rapid-tracked within forty eight hours, in which Tata hopes will decorate income. Last month?S figures had been as a result of customers unable to gain loans.

A four year guarantee will come as fashionable, with a preservation contract option for ninety nine rupees (roughly round ?1.30) a month additionally to be had.

An editor of a major automotive magazine in India, Hormazd Sorabjee, explains why the Nano is falling behind its expensive competitors:

"The bottom of the pyramid continues to be in which the action is. But the aspirations of human beings are shifting up. People need to jump into some thing more big.?

When first launched, the Nano was unavailable, turning off dealerships and customer alike due to the inability to examine/test drive the car before placing an order.

Darius Lam, an analyst at J.D. Power & Associates said: “The company has just mishandled the whole thing. First, the company said it was no big deal. Then, it was just some foreign objects.”

An insider has exclaimed that Nano sales are slowly rising. Tata spokesman, Debasis Ray details:

“As we began open sales, our learning was that, even though the Tata Nano is affordable for thousands of customers who do not own a car, it is still a significant decision to enter the four-wheeler category.”

Tata believes that many of the Nano’s 71,000 owners are happy with their car, mentioning its performance, 41mpg fuel economy and spacious interior as the main reasons for purchasing it other than its low price.

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