Tata Motors received more than 203,000 fully paid bookings for its new Nano subcompact car in just two weeks, the company reported in a statement on Monday.
“Tata Motors places on record its gratitude to the people of India for according such a warm welcome to the Tata Nano,” said the company, calling the response “encouraging.”
The sales were worth $512.6 million to the Indian company. That’s a significant number for a country where just 1.5 million passenger cars were sold in the last fiscal year.
The Tata Nano, lauded as the “People’s Car,” was introduced to great fanfare in March. Because of production constraints, Tata made the Nano available for sale only on April 9 to 25, the company said. Only about 20 percent of the total bookings were for the ultra-cheap $2,050 base model. About 50 percent were for the top-end Nano LX, which is priced at around $3,300 (see brief test drive here).
The number of bookings is more than double what Tata is capable of building in the car’s initial production run. The first 100,000 owners will be selected through a lottery. Tata is expected to start delivery of the Nano in July.
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