Tata Motors Expands Financing Options for World's Cheapest Car

India-based Tata Motors (NYSE: TTM  ) announced today that the cheapest car in the world, the Tata Nano, can now be driven off the lot with the swipe of a credit card.

With a $2,500 price tag,the Tata Nano has been lauded as an engineering innovation of the emerging market. This newest financial scheme further decreases the barriers to own by allowing customers to pay back their purchase at 0% interest over a 12-month period.

Calling the company's offer an "industry first," President of Passenger Vehicles Ranjit Yadav noted that:

Our customer-centered cars are being backed with customer-engaging purchase experience at our dealerships. We realize that we can become a leader when the after-market experience levels are excellent, not only in pockets, but across our chain. We are bringing in enhancements with equipment, manpower and processes for fast service.

The automaker partnered with five other banks, including HSBC, to make this offer available in 75 Tata Motors dealerships across 26 cities.

In FY 2012, the company sold 77,394 Nanos, a 22% increase over 2011 numbers.


Read/Post Comments (0) | Recommend This Article (3)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2297968, ~/Articles/ArticleHandler.aspx, 4/19/2014 10:55:11 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement