23 June, 2009
Tata Motors is pleased to announce that it has completed the process to select the first 100,000 owners of the Tata Nano from among the 2,06,703 final list of applicants who had booked the car. As announced at the launch on March 23, the first 100,000 owners were selected through a computerised random selection process. The company had said that the process would be completed within 60 days of the closure of booking on April 25.
The booking process had also given the option to applicants to indicate whether they would like to retain their booking amounts with the company, even if they do not get selected among the first 100,000 allottees, and await delivery of their cars after them. 67% (137,867) applicants had chosen this option, from which a further 55,021 retainees have been made allotments. The booking amounts of the unsuccessful applicants, who had not exercised this option, are being returned.
The company will be individually informing all applicants about their status of being an allottee, retainee or an unsuccessful applicant. The details have been uploaded on www.tatanano.com . Applicants need to log on with their booking application number to know their status or contact the company appointed call centre (020 66495678).
The first 100,000 owners
Deliveries will begin from July 2009 and the first 100,000 deliveries are expected to be completed by the last quarter of 2010. All efforts will be made to deliver earlier, by ramping up production at the already operational Pantnagar plant and the fast upcoming Sanand plant. The successful allottees will also be sent discount vouchers of Titan and Westside valid at their outlets across India.
Tata Motors reconfirms that the first 100,000 owners are price-protected, and will get their Tata Nano at the ex-showroom prices, announced at launch on March 23.
The deliveries to the 55,021 retainees will begin after the first 100,000 deliveries.
Tata Motors reconfirms that the retainees will benefit from an interest of 8.5% on their booking amount if the car is delivered within two years from the date of allotment (23rd June 2009) and 8.75% if the car is delivered after two years from the date of allotment. The interest will be paid directly to the retainees by Tata Motors.
Along with the confirmatory letter, Tata Motors is making retainees an exciting offer on the Tata Indica range over and above any current scheme on these cars in the market, in addition to discount vouchers of Titan and Westside which can be used at any outlet of these companies across India
Tata Motors’ preferred financiers have announced auto retail loans with aggressive low-interest schemes. The allottees & retainees, who had availed of booking finance, can approach them to convert their booking amounts into auto retail loans and also to finance the remaining amount. The interest rates offered by the preferred financiers are:
|Tenure (up to) years||LTV||Rate range|
|BANK OF BARODA||7||85%||10.50%|
|CENTRAL BANK OF INDIA||7||80%||9.5-11%|
|ICICI BANK LTD||2-3||80%||13.50%|
|ORIENTAL BANK OF COMMERCE||7||85%||11-11.5%|
|PUNJAB NATIONAL BANK||7||80%||11.00%|
|STATE BANK OF BIKANER & JAIPUR||5||85%||10-11.5%|
|STATE BANK OF HYDERABAD||7||80%||11-11.25%|
|STATE BANK OF INDIA||5||85%||11.75-12%|
|STATE BANK OF INDORE||5||80%||12.00%|
|STATE BANK OF MYSORE||7||85%||11.25-11.75%|
|STATE BANK OF PATIALA||5||80%||12.00%|
|STATE BANK OF TRAVANCORE||7||85%||11.75-12%|
|TATA MOTORS FINANCE LTD||4||90%||13.5-14.5%|
|THE FEDERAL BANK LTD||5||90%||14.25%|
|UNION BANK OF INDIA||5||85%||11-11.5%|
|UNITED BANK OF INDIA||5||90%||9.00%|
Offer for unsuccessful applicants
As a token of its appreciation for their interest in the Tata Nano, Tata Motors is also making unsuccessful applicants an exciting offer on the Tata Indica range over and above any current scheme on these cars in the market. The scheme is being communicated to them individually. They will also be sent discount vouchers of Titan and Westside which can be used at any outlet of these companies across India.
Tata Motors once again places on record its gratitude to the people of India for according such a warm welcome to the Tata Nano, as also to all its preferred financiers, dealers and partner companies for their stupendous effort in helping the company launch the Tata Nano.