Tata Motors has managed to sell around 500,000 Nano application forms, thus earning Rs. 15 crore (at Rs 300 each) within 15 days of opening the registration process. Distributors associated with the Tata Nano bookings said most of the forms were likely to translate into bookings. The number of booking applications received will be announced after a few days of the closure of the booking process on 25th April. All the booking applications will be subjected to a computerised random selection procedure. Within 60 days of the closure of bookings on 25th April.
Tata Motors will process and announce the allotment of 100,000 cars in the first phase of deliveries. The Delivery of the car will begin from July 2009. The Applicants have the option to retain their booking deposit, even if they do not get allotment in the first phase. Those who choose this option will be eligible for interest on their deposit, effective from the date of announcement of allotment of the second phase, at a rate of 8.5% for retention period between one year to two year and 8.75% for a retention period of more than 2 years. Allotment of retainees will be simultaneously communicated, along with the allotment of the first 100,000 cars.
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April 20, 2009
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