According to Bloomberg, Tata Motors has received over 200,000 orders for its new microcar, the Tata Nano. If this keeps up, the new car will capture a 17% share of the Indian auto market in its first year.
Unfortunately, these orders are outstripping the production capacity of Tata, so the company will select the first 100,000 customers by lottery.
Sales of the two-cylinder, 624 cc Nano was delayed by at least six months after a land dispute forced Tata Motors to shutter a purpose-built factory in the east of the country.
Most customers who failed to make it to the initial list of buyers may cancel their orders, considering the long wait, said said Deepesh Rathore, Indian automotive analyst at IHS Global Insight Inc.
“As soon as Tata announces the winners of the first 100,000 Nanos, I expect a majority of remaining bookings to be eventually canceled,” said Rathore. “A section of the people would wait with their bookings and have a look at the first few cars on the roads and then decide.”
Most customers who failed to make it to the initial list of buyers may cancel their orders, considering the long wait, said said Deepesh Rathore, Indian automotive analyst at IHS Global Insight Inc.
“As soon as Tata announces the winners of the first 100,000 Nanos, I expect a majority of remaining bookings to be eventually canceled,” said Rathore. “A section of the people would wait with their bookings and have a look at the first few cars on the roads and then decide.”
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