If you thought your dream of owning Tata Nano will come true at a price of Rs 1 lakh, then this piece of information would shatter your dreams into pieces. The world’s cheapest car may no longer stay as cheap as Rs 1 lakh, the price at which this small wonder was launched. Tata Motors may increase the price of Nano.
Though the automaker has not disclosed the hike in price, the reason for the expected increase in prices has been made clear by Tata Motors. The increase in prices of commodities and logistics is the major reason that will affect the cost of Nano. Mr. Ravi Kant, vice-chairman, Tata Motors said,"Deliveries to the first lot of customers should be over by December. And prices of commodities and logistics have gone up, so we’ll look into the pricing of the car closer to the date of fresh bookings."
The other factor that may lead to increase in price is the commencing of Nano's production at Tata's plant at Sanand, Gujarat from April, 2010. The Sanand plant in Gujarat does not get tax concessions as the Pantnagar plant in Uttarakhand. This will lead to increase in tax outgo thereby affecting the 1 lakh price tag of Tata Nano.
The second phase of bookings for Tata Nano is expected to begin a couple of months later.
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