Nano hits used car market

Price tag of 60-day-old car is a bizarre Rs 15,000 more than on-road price, making it the most expensive second-hand small car in Mumbai

Price tag of 60-day-old car is a bizarre Rs 15,000 more than on-road price, making it the most expensive second-hand small car in Mumbai

It's the cynosure of all eyes at a showroom in Andheri. A two-month-old, silver Nano, which has run up 150 km, is up for grabs in the second-hand market for approximately Rs 2.3 lakh.

Said Raj Sethi, owner of Popular Car Bazaar in Andheri, "This is a rare case where a used Nano is on sale in the second-hand market.

The car is a high-end LX model with AC and power windows and has an on-road price of approximately Rs 2.13 lakh.

Though it is a used vehicle, it could attract a premium of at least Rs 15,000." The ex-showroom price of the LX model is Rs 1.85 lakh but insurance, road tax and secondary expenses take the price to Rs 2.13 lakh.

Car-ma: This deluxe model Nano has been getting many enquiries despite its Rs 2.3 lakh tag

He added, "The car is like a show-stopper in a fashion show and is attracting its share of curious onlookers. Some people have already shown interest in buying it."

The car belongs to Bhavesh, a businessman from Ulhasnagar, who refused to speak on the subject.

Demand

Debasis Ray, head, corporate communications, Tata Motors, said, "The premium indicates the demand for and people's interest in the Tata Nano.

It is possible that the owner wanted to leverage that demand. Our feedback of Nano customers across India has been satisfactory."

Added Nitin Dossa, president, Western India Automobile Association (WIAA), "This is a very rare case.

The seller must be some kind of an investor, who is trying to gain monetary benefit. The WIAA has not received a single complaint about the Nano.
u00a0
In fact, it's not only the middle class, but also the elite who drive a Nano because it is easy to drive and park."

Karan Nagpal, a dealer of used cars, said, "People have high expectations from the Nano because of its features and the brand image associated with it.
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This, combined with the fact that selling a Nano is profitable, could be the reason why it is on sale in the second-hand market.

Price tag of 60-day old car is a bizarre Rs 15,000 more than on-road price making it the most expensive second-hand small car in mumbai ."

Added Rajesh Tyagi, another dealer in used cars, "As the company gears up for second allotments and the novelty factor goes away, Nanos will be a regular feature in the used car segment."

Architect Parul Jain, who recently got her high-end Nano, has approached car dealers to ascertain its resale value.

"It has nothing to do with the car, but after waiting for more than a year for delivery, my needs and priorities have changed."

Jan 2010
First set of 1,00,000 owners in the final list of 2,06,703 applicants will have possession of the car

Rs 30 crore
The amount Tata Motors made by selling over a million application forms at Rs 300 apiece

50,311
Members of the Tata Nano community on Orkut

Did you know?

Maruti Zen and Swift have the maximum demand in the u00a0second-hand car market. The price depends on the date of manufacture and the kilometres it has covered

An American company plans to launch the next small car, the Rhino. The car is expected to cost half of what a Nano u00a0does and it will hit the roads u00a0next year.

54 lakhs hits a day

According to a Tata Motors spokesperson, "On March 23, the day of the launch, the Tata Nano website got 54 lakh hits between 8 pm and 5 pm."

The company had used u00a0blogs, networking sites and online and mobile games to reach out to a maximum number of people.

Nanos on fire

Three incidents of Tata Nanos catching fire have raised questions about the safety of the car. An incident was reported from Delhi earlier this month and there have been one each from Ahmedabad and Lucknow.

All three fires reportedly started near the steering wheel. Tata Motors said it will do a pre-check of cars to be delivered.