Tata Motors Receives 2.03 Lakh Bookings

Tata Motors has recorded over 2.03 lakh bookings for the wonder car Nano. The company had sold over 6.10 Lakh forms, but the conversion rate for booking was lower by one third. Earlier, the auto industry speculation was that at least 5 lakh bookings would be received. However, a senior official said that the response was good considering the market slowdown.

According to a statement by the company, out of the 2.03 bookings, at least 70 percent were financed by banks and the balance was made by cash payment. At least 4000 bookings were made through the online account. Of the total bookings, the base variant accounted for 20 percent of the bookings, the mid-range variant garnered 30 percent bookings and the rest 50 percent was for the top end trim LX variant.

The Tata Nano website recorded 30 million hits till the closure of booking on April 25. It received nearly 1 million hits everyday. At least 14 lakh people walked into Tata showrooms, Croma and Westside stores to inquire about the car.

The bigger cities and metros showed tilt towards the top end variant with air conditioner, but the Tier II and Tier III cities have witnessed higher demand for the mid-level and base model. The number of people making cash payments was higher in metros compared to other cities.

Some of the reason citied on why some potential consumer preferred to stay away it was said that there was confusion over the booking procedure, uncertainty over delivery schedules and unavailability of test drives.

The company expects the demand to pick up once the car appears on road. People who did not buy the car now, would think about Nano when it is allotted. The first phase of allotment would be announced in July. Tata Motors will also announce the list of people who want to retain their bookings for future allotment at that time. The company garnered a total of Rs 2,500 Crore from Nano bookings.

http://www.carazoo.com/article/1809200801/Tatas-Journey-from--Truck-to-Nano?; http://www.carazoo.com/article/1809200801/Tatas-Journey-from--Truck-to-Nano?