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Nano To Be Phased Out From India Soon: Tata Motors
As the compact car continues to be worst performer and also as the company would require to make additional investment to comply with the mandated crack-test from 2019, Tata Motors is planning to phas
Nano which made its presence in the Indian market as a people's car is said to be soon phased out from the domestic market. Of all the automobiles manufactured by Tata Motors, Nano has emerged to be the worst performer in the segment.
The report said the decision to stop any further investment in the compact car is taken by the company management and is based on the premise that the car failed to grow on its own. As per the reports, the company may continue to manufacture and produce the low-cost car for the export markets. To continue selling the car in the domestic market, Tata Motors would have to clear the mandate with respect to crash test beginning 2019 that shall require additional investments, which Tata Motors is hesitant to invest in the project on the back of weak performance by the car.
The compact car Nano was first launched in the year 2009 and was a brainchild of Ratan Tata. The car initially priced for Rs. 1,00,000 saw its price increasing with time and at present the car sells for over Rs. 2.5 lakhs in the domestic market.
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