My God! Bookings of Nano are over and many of us waiting for 1 Lakh Rs. car for a years (may be 1 or 2) and nobody thinks what happens about the Nano or its coming variants. Well, Tata Motors is understood to have begun refunding dealers across the country for unsold Nano booking forms. Caught up in the Nano excitement, each dealer had picked up between 2,000 and 10,000 application forms, but managed to sell not more than 30-35% of it, top dealers said. Dealers bought each booking form for Rs. 250 and sold it at a premium of around Rs. 300 to customers.
The company has informed the dealers that the Nano form money would be refunded. They are able to sell more than 50% of the forms bought from the Tata management. Dealers now admit that they overestimated the demand for the Nano. Most customers opted to stay out of the booking process as there was confusion over the procedure, unavailability of test drives and uncertainty over delivery schedules.
It is believed that while issuing the forms, Tata Motors had told dealers that the amount spent on forms will not be refunded. Many dealers approached the company and requested about the refunding, as the amount is quite substantial. The company initially asked dealers to wait but now, they have been told that the amount would be refunded. I don't know what happens next?
Tata Motors received over 2.03 lakh bookings for its Rs. 1 lakh car Nano, collecting nearly Rs. 2,500 crore. The company sold a total of 6.10 lakh forms. Although initial industry expectations were around 5 lakh bookings, company officials maintain that the company has gathered a good response at a time when the car market is struggling for volumes.
Whatever the matter but one thing is clear many middle class families must have to wait for their dream car for at least 1-2 years.
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