Is the world's cheapest car losing its charm? That is the case if one goes by car dealers. They claim that a number of Nanos have already found their way to the used car market, and that their prices are also going down. All this, even before the first Nano officially rolls out of Sanand plant.
According to industry experts, when deliveries of Nano started in July 2009, many were willing to pay a high premium for becoming the proud owner of the world's cheapest car. But, things have changed dramatically in the past 10 months or so. Dealers say that the premiums have disappeared, and in fact, owners are willing to sell their Nanos for significantly less than the premium price they bought it for.
"The hype generated by Nano at the time of its unveiling and subsequent launch has died down. Earlier, the situation was that people wanted to own a Nano at any cost and wereeven willing to pay a premium for it. However, with limitations of Nano coming to light, people no longer are excited about owning the world's cheapest car," Rushabh Shah of Arihant Cars, a dealer of used cars in Ahmedabad, said.
According to used car dealers, used Nanos are selling at a discount of Rs20,000-25,000 to their price. There have been instances of even brand new Nanos being sold by the owners at a discount of Rs10,000-15,000.
Sanjay Khatri, partner in Jagdish Motors, said that they have also sold a few used Nano cars in the past few days, as unsatisfied customers were keen to discontinue using the world's cheapest car.
While Tata Motors' officials could not be reached for comments, sources said that many customers have cancelled their Nano bookings following a change of mind.
"Many customers who have received allotment letters from Tata Motors to take delivery of their Nano cars, are not interested in taking delivery, and are looking to sell the car off," said Tejas Shah, of Krishna Cars, a dealer of used cars.
The rickshaw-like sound of the Nano is the biggest irritant for the car owners, said dealers. "We have sold five used Nano cars in the past couple of months. Other car dealers in our circle have also sold a few Nano cars. Apart from the rickshaw-like sound, Nano's slow pick-up has put off users," said Hemang Shah of Gaurav Motors.
Recent incidents of fires in the car have also put off existing as well as potential buyers, claim car dealers.
Comments: 1