Six weeks after the $ 2000 worth Nano formally introduced in Mumbai, Tata motors announced this week that it has received orders for 203,000 cars during the special 16-day period for the reservation, which was ended at April 25.
Nano is the first car in India which had had more than 200,000 orders on premiere. For comparisons, a small Suzuki Alto, one of Japanese best-selling car in India sold 913,000 vehicles since 2000.
Because the prospective buyers are pre-paid the full amount of money for the Nano, Tata Motors, the largest producer of vehicles in India has received 507 million dollars in cash.
This will ease the financial pressure on this company because it is mandated for a short-term over 3 billion dollars due to pick Jaguar, Land Rover and Ford, in March last year.
Nano delivery will begin in July, but due to limited production capacity, tens of thousands of customers may wait more than a year for delivery. The company has pledged to deliver the car for the first 100,000 customers who will be selected in the lottery by 2010 year.