This translates into money earned for the company which came up with the lower than low-cost vehicle idea. From the selling of applications (300 rupees of $6 a piece) and the down-payments made for the Nano, Tata Motors raised a total of $3 million, autoblog.com reported.
And this is not all. The Indian car maker expects that by the end of the registration period (April 25, that's four days from now, so get a move on it!) to receive between 750,000 and 1 million orders for the nanite wonder, thus doubling the money made on the car so far. Without actually putting a single unit on the streets, that is...
What appeals to the everyday Indian consumer (besides the obvious price issue) is the State Bank of India. The financial institution managed to round up 25 percent of the total number of orders by implementing a seven year long finance program for the Nano, with 10 percent interest (that's about $50 a month).
With deliveries set to begin in July we look forward on seeing whether the initial Indian enthusiasm will keep up. Mind you that most of the orders are a kind of a "blind date" deal, most of the future Nano owners going for it without actually seeing the car.