Monday May 4, 09:52 PM
Indians scramble for world's cheapest car
NEW DELHI (AFP) - India's Tata Motors said Monday it had received more than 200,000 fully paid orders for its Nano -- the world's cheapest car -- just weeks after it appeared in Indian showrooms.
The company, which launched the car in March, collected about 25 billion rupees (500 million dollars) until April 25, when the booking period for the two-cylinder 624 cc car closed, it said in a statement.
"The bookings are double the allotted number of cars for delivery," Tata Motors said.
The firm will allot 100,000 cars in the first phase of deliveries through computerised random selection.
The company has said it is confident of strong demand for the 100,000-rupee (2,000-dollar) Nano despite a global slump in car sales.
The four-door car, which can carry up to five people but not much luggage, is expected to be on the road in July.
Company chairman Ratan Tata said he wanted to create "a safe, affordable, all-weather form of transport" for Indian families.
Two-wheeled vehicles account for a large number of fatal road accidents in India.
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