The loans can be fast-tracked within 48 hours, in which Tata hopes will enhance sales. Last month’s figures were caused by customers unable to obtain loans.
A 4 year warranty will come as standard, with a maintenance contract option for 99 rupees (roughly around £1.30) a month also available.
An editor of a major automotive magazine in India, Hormazd Sorabjee, explains why the Nano is falling behind its expensive competitors:
"The bottom of the pyramid continues to be where the action is. But the aspirations of people are moving up. People want to jump into something more substantial.”
Darius Lam, an analyst at J.D. Power & Associates said: “The company has just mishandled the whole thing. First, the company said it was no big deal. Then, it was just some foreign objects.”
An insider has exclaimed that Nano sales are slowly rising. Tata spokesman, Debasis Ray details:
“As we began open sales, our learning was that, even though the Tata Nano is affordable for thousands of customers who do not own a car, it is still a significant decision to enter the four-wheeler category.”
Tata believes that many of the Nano’s 71,000 owners are happy with their car, mentioning its performance, 41mpg fuel economy and spacious interior as the main reasons for purchasing it other than its low price.