In view of the expected significant demand and limited production capacity initially until the Sanand plant is fully ramped up to capacity, the Tata Nano will be available through a booking mode.
Booking amount for the Nano, the world's cheapest acr, can be done by just paying Rs 2,999 upfront while the rest can be secured by way of loan.
Tata Motors has entered into an exclusive agreement with the State Bank of India to manage the booking process.
The sale of application forms and acceptance of booking will start from April 9 till the end of April 25. The application forms will be available at a price of Rs 300, with a range of offers from select associates of the Tata Group companies.
The application forms will be available at over 30,000 locations in about 1,000 cities through Tata Motors Passenger Car dealerships, State Bank of India and its branches, its subsidiaries and associates, other preferred financiers, and outlets of Westside, Croma, 'World of Titan' and Tata Indicom exclusive stores.
Within 60 days from April 25, when bookings come to a halt, Tata Motors will process and announce the allotment of 100,000 cars in the first phase of deliveries, through a computerised random selection procedure.
These 100,000 allotments will be 'price protected', i.e. the cars will be available at Rs 100,000, excluding insurance and registration cost.
The price of the Nano, including that of the base model, will most likely go up after this.
Deliveries for the first 100,000 cars will commence from July 2009.
After collecting the forms, customers have two options. They can either pay the entire booking amount themselves or seek financing of the booking amount.
For those who seek financing, Tata Motors has entered into agreements with 15 preferred banks/NBFCs. A Tata Nano can then be booked by paying Rs 2, 999. The chosen financier will directly submit the application forms to the State Bank of India.
Those, who choose to themselves pay their entire booking amount, can submit their application forms to State Bank of India through 1,350 notified branches in 850 cites, and also at Tata Motors Passenger Car dealerships, Westside and Croma outlets. Option to submit bookings online is available at www.tatanano.com.
Applicants have the option to retain their booking deposit, even if they do not get allotment in the first phase. Those who choose this option will be eligible for interest on their deposit, effective from the date of announcement of allotment of the second phase, at a rate of 8.5 per cent for retention period between one year to two year and 8.75 per cent for a retention period of more than two years. Allotment of retainees will be simultaneously communicated, along with the allotment of the first 100,000 cars.
Preferred financiers
Tata Motors has entered into agreements with 15 preferred banks/NBFCs for the Tata Nano booking loan product. The preferred financial institutions are: State Bank of India, Tata Motor Finance, State Bank of Patiala, ICICI Bank, State Bank of Travancore, State Bank of Mysore, State Bank of Hyderabad, State Bank of Bikaner and Jaipur, State Bank of Indore, Axis Bank, Punjab National Bank, Federal Bank, Corporation Bank, Indian Bank, and the Central Bank of India. The updated list and details are available at www.tatanano.com .
Merchandise and accessories
The Tata Nano comes with an attractive range of accessories and merchandise. The range of merchandise includes a Nano phone, Nano watch, T-Shirts, etc. and will be made available online at www.tatanano.com as well at all Tata Motors Passenger Car dealerships, Westside & Croma outlets. Tata Indicom will also market the Nano phone and Titan the Nano watch.
Accessories include alloy wheels, body kits, decals etc., to customise the Tata Nano to individual tastes.