Latest News

  • Home
  • National
  • End of The Road for Nano? Just 1 Unit Produced in June
End of The Road for Nano? Just 1 Unit Produced in June
Thursday, July 5, 2018 IST
End of The Road for Nano? Just 1 Unit Produced in June

The entry level car, brainchild of Ratan Tata who envisaged giving a safer and affordable alternative to families riding on two-wheelers, sold just three units last month in the domestic market.
 

 
 

New Delhi: Tata Motors' small car Nano is inching closer towards the end of its journey with just one unit produced in June, although the company maintained that no decision has been taken yet on stopping its production.
 
The entry level car, brainchild of Ratan Tata who envisaged giving a safer and affordable alternative to families riding on two-wheelers, sold just three units last month in the domestic market.
 
In a regulatory filing, Tata Motors said there was no export of Nano in June this year. It had shipped 25 units in the same month last year. In terms of production, only one unit was produced last month as against 275 units in June 2017.
 
Domestic sales were at three units in June as against 167 units in the year-ago month.
 
When contacted for comments on whether the company has taken a decision to stop Nano production, a Tata Motors spokesperson said, "We are well aware that the Nano in its present form cannot continue beyond 2019 and may need fresh investments to survive. No decision has been made yet in this regard."
 
The spokesperson further said, "Meanwhile, we continue to produce Nano catering to customer demand in key markets."
 
Nano, which was unveiled in January 2008 at the Auto Expo with much expectations of being the people's car, could not live up to the billing. 
 

 
 

 

The car was launched in the market in March 2009 with an initial price of close to Rs 1 lakh for the basic model despite cost escalations, with Ratan Tata insisting that "a promise is a promise". 
 
However, from the beginning, Nano courted trouble. It was originally planned to be rolled out from Tata Motors' proposed plant at Singur in West Bengal, where it faced intense political and farmer protests against land acquisition.
 
The company had to shift its production to a new plant at Sanand in Gujarat. Instances of the car catching fire initially after it was launched didn't help its cause either. 
 
Ratan Tata had admitted that the company made the mistake of promoting the Nano as 'the cheapest car'. 
 
It become a loss-making model for Tata Motors with ex-Tata Sons chairman Mistry, who was abruptly removed from the post, even went on to claim that the Nano "consistently lost value, peaking at Rs 1,000 crore". 
 
Mistry also termed the Nano as one of the "legacy hotspots" and there was "no line of sight to profitability for the Nano, any turnaround strategy". He had also claimed that Tata Motors did not stop producing the car due to "emotional reasons".
The car was launched in the market in March 2009 with an initial price of close to Rs 1 lakh for the basic model despite cost escalations, with Ratan Tata insisting that "a promise is a promise". 
 
However, from the beginning, Nano courted trouble. It was originally planned to be rolled out from Tata Motors' proposed plant at Singur in West Bengal, where it faced intense political and farmer protests against land acquisition.
 
The company had to shift its production to a new plant at Sanand in Gujarat. Instances of the car catching fire initially after it was launched didn't help its cause either. 
 
Ratan Tata had admitted that the company made the mistake of promoting the Nano as 'the cheapest car'. 
 
It become a loss-making model for Tata Motors with ex-Tata Sons chairman Mistry, who was abruptly removed from the post, even went on to claim that the Nano "consistently lost value, peaking at Rs 1,000 crore". 
 
Mistry also termed the Nano as one of the "legacy hotspots" and there was "no line of sight to profitability for the Nano, any turnaround strategy". He had also claimed that Tata Motors did not stop producing the car due to "emotional reasons".

 
 
 
 
 

Related Topics

 
 
 

Trending News & Articles

 Article
Here is the full list of 827 porn websites banned by the DoT

While the Uttarakhand High Court has asked to block 857 websites, the Ministry of Electronics and IT (Meity) found 30 portals without any pornographic content. ...

Recently posted . 61K views . 1 min read
 

 Article
Class XII Boys Raped 16-Year-old in Dehradun School After Watching Porn on Phone: Police

The four boys as well as five school officials, including the director and principal, were arrested after the incident. The minors were presented before the Juvenil...

Recently posted . 8K views . 1 min read
 

 Article
Sept 27,2001 Rahul Gandhi and his girl friend Veronique,was arrested in Logan airport in Boston

Rahul was having an Italian passport and was carrying suitcase full of dollars. Some say it was about was it $2 million. Rahul and his girl friend was th...

Recently posted . 7K views . 7 min read
 

 Article
TOP 10 GYM EQUIPMENT BRANDS IN INDIA 2017

True – Tr...

Recently posted . 6K views . 83 min read
 

 
 

More in National

 Article
OYO was the big disruptor in India’s hotel industry, forcing even Tata to take note

OYO founder Ritesh Agarwal was just 18 when he came up with the idea. Within just a few years, OYO surpassed the valuation of India’s oldest hotel company.<...

Recently posted. 702 views . 1 min read
 

 Article
Know why SBI reduced ATM withdrawal limit to Rs 20,000

The restriction comes into effect from October 31, days before Diwali.  

Recently posted. 555 views . 0 min read
 

 Article
Train travel time to come down! Private trains on Indian Railways to be game-changers; what will be special

Indian Railways steps up pace on private trains project! If all goes well, then in the next 2 years Indian Railways passengers will be able to travel in world-class...

Recently posted. 708 views . 1 min read
 

 Video
Dadi Ki Rasoi: Meal For Rs 5



Recently posted . 928 views
 

 Video
NCERT SYLLABUS TO BE CUT BY 50%



Recently posted . 1K views
 

 Reviews
Top 10 Schools in Noida



Recently posted . 1K views . 57 min read
 

 Reviews
Top 10 financial services companies in India



Recently posted . 1K views . 31 min read
 

 Article
Farmer in Karnataka paints pet dog as tiger. Here’s why

The dog belongs to a farmer named Srikanth Gowda.

Recently posted. 508 views . 0 min read
 

 Article
Sarvottam International school, Noida Extension celebrated it's most awaited 3rd Annual Carnival- Disneyland ' A world of cartoons' - on 21st January, 2018.

  Sarvottam International school,  Noida Extension celebrated it's most awaited 3rd  Annual Carnival- Disneyland ' A...

Recently posted. 1K views . 1 min read
 

 
 
 

   Prashnavali

  Thought of the Day

“Learn from Yesterday, live for Today, hope for Tomorrow.”
Albert Einstein

Be the first one to comment on this story

Close
Post Comment
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST


ads
Back To Top