[vineethvazhayil]

Originally Posted by sidindica

article:
Tata Motors rakes in Rs 2,500 cr from Nano bookings- Automobiles-Auto-News By Industry-News-The Economic Times

They haven't really met Tata motors expectations, the booking numbers that is.. I thought they were hoping much more bookings... so there is a 50% probability for anyone who has booked to be issued a car..

[sgiitk]

In a way it is good that the bookings are not 400,000. What will be interesting is to see how many of the second 100,000 remain after the lottery results are out.

[rkavthekar]

For all those who are dissapointed by the quoted number of bookings, tell me, which car got so many bookings on its launch, anywhere in the world?

To me, its a great start and I am sure, all other car manufacturers, who have been ignoring this segment, will train their guns for this segment in near future.

Also, so many people would like to take informed decisions and will adopt wait and watch policy till they throw in their money on Nano.

takecare and drive safely

[thiyags22]

2L people have got this trust that Tata will deliver a good product (no test-drives available as somebody pointed out) and have paid about a Lakh as booking amount which is not small.I would think it is a successful start for Tata.

Thiyags

[CarsPG]

As others have mentioned I think lack of test drives coupled with the Indica gen 1 "experience" has resulted in fewer bookings.

I personally would have booked one if a test drive was available.

[trrk]

Hi,

Originally Posted by NetfreakBombay

Those who have booked through finance scheme.. have a question for you?
Does EMI start on delivery of car or earlier?

I did book a Nano LX through the local SBI Branch here. I ended up paying Rs 3999 + 300 for the booking paper + 200 (no receipt) for stamp paper. The documents given were a passport size photo, PAN card copy and an address proof (driving license in my case). It took about 30 minutes for the whole deal.

The 3999 that I have paid is the charges (interest + processing for 3 months) of the bank to advance Rs 140000 to TATA. If I do get an allotment, I will have to negotiate with the bank to get a car loan. If I don't go to them, the booking will be cancelled and the bank would get the money back from TATA.

I have opted NOT to retain the booking amount with TATA in case I don't get allotment in the first phase.

The above booking is just to increase the allotment chances for my friend.

He has booked a Gold CX where as mine is a yellow LX. The only problem would be if both of us get allotment!

[hillram]

I feel the booking of Nanos could have been more,if there was more clarity in the Finance scheme.
When i was booking,i could find many customers asking various quessential questions and the Tata guys were giving rather dis jointed answers.Im not too sure if this was to take customer for a ride.I dont think Tata would do that.
Im hoping i will get my allotment.

[budmaash]

wow, 2 lakh bookings in a recession period. This will certainly pull TML out of it's cash crunch in the short period and shows the value & the trust people have in TATA brand.

But, the total booking amount may not be such a huge number as many people would have booked through banks which have a condition that they have to take loans from them, when buying the car. I thought TML was thinking of a much higher booking number but looks like they over estimated by the crowds that gathered at Auto Expo and the publicity done by News Channels. After the initial buzz and euphoria the novelty of the 1 lakh rupee car wore off as people realised it's not anywhere near to 1 lakh ruppe mark.

[NetfreakBombay]

Originally Posted by trrk

The 3999 that I have paid is the charges (interest + processing for 3 months) of the bank to advance Rs 140000 to TATA. If I do get an allotment, I will have to negotiate with the bank to get a car loan. If I don't go to them, the booking will be cancelled and the bank would get the money back from TATA.

That is a sweet deal for TATA.

Basically they get the money for free. I.e. customer is paying for ALL bank charges and interest even if car is not allotted to him/her.

[suren181]

2L bookings in 20 days, well it is a very good start for the Nano. Eventhough there may be a few heartburns to come during the long wait for deliveries, this is a nice thing to have happened during the hard and trying times that the industry is going through today.

Wonder when Nano will open up for exports? Am pretty sure the world is waiting and watching for the initial reports to get theirs.

[loving_alaap]

News channels also mentioning that, Nano bookings are much lower than expected.

atleast Rs 2500 crores are needed for break even,

so, lets see, how TATA will is going to cope up with.

[thiyags22]

Originally Posted by trrk

The only problem would be if both of us get allotment!

Can't you sell it for a premium

[tortoiseNhare]

Originally Posted by sgiitk

In a way it is good that the bookings are not 400,000. What will be interesting is to see how many of the second 100,000 remain after the lottery results are out.

I guess very few will withdraw booking. My father (about 70 years old) has booked one. According to him, keeping the money with Tata will serve better purpose than keeping it as fixed deposit in a bank.

[GTO]

This is WAY below Tata Motor's own expectations. Heck, even the Indica garnered 1.15 lakh full-payment bookings way back in 1999. Don't forget, that's a car whose average price was more than double that of the Nano, and at a time when the car market was far smaller. The rumour mills suggest that Tata's expectations were anywhere between 6 - 10 lakh Nano bookings.

Facts:

- 70% of these bookings were financed

- About half of the bookings were for the top-end variant!

- The long wait periods could have been the most major deterrent to potential customers. Tata's full-fledged Nano production line is still a while away

- Without a doubt, the top-end LX model is priced higher than expectation. It veers dangerously close to M800 territory. The 800 has a proven track record and a zero wait period!

- Full payment booking is proven as the wrong strategy when, deliveries are going to take long and your targetted segment is exceedingly price sensitive (semi-urban + rural).

Originally Posted by srijit

Doesn't the article say that the number is for the fully paid bookings?

Includes all bookings, cash and finance.

Originally Posted by nickatnite

Wait one year and one can buy an used Nano with half the fuss.

Cheap cars generally depreciate slower. The less you pay, the less you lose.

P.S. : The record for the most number of bookings upon launch stays with the Fiat Uno. Though the booking amount was not a full payment toward the car, nearly 3.0 lakh bookings deserves applaud. Just goes to show what an opportunity Fiat lost, else they could have become the 2nd or 3rd largest car manufacturer in India! Such as the trust we had in the brand at one time.

[trrk]

Hi,

Originally Posted by thiyags22

Can't you sell it for a premium

That is a thought, if the transfer of name can be done easily! But then I am not sure how popular the Yellow LX would be!

Originally Posted by GTO

P.S. : The record for the most number of bookings upon launch stays with the Fiat Uno. Though the booking amount was not a full payment toward the car, nearly 3.0 lakh bookings deserves applaud. Just goes to show what an opportunity Fiat lost, else they could have become the 2nd or 3rd largest car manufacturer in India! Such as the trust we had in the brand at one time.

All thanks to Dr Datta Samant!