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The Analyst Magazine:
Tatas Rs. 1 Lakh Car : A `Peoples Car' Named Nano
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Nano—at a length of 3.1 meters, width of 1.65 meters, and height of 1.6 meters, with adequate ground clearance, a roomy passenger compartment with generous leg space and head-room for four persons, four doors with high seating position that make ingress and egress easy, corner wheels, and a powertrain positioned at the rear—heralds a new era in car making. To cap it all, it is fuel-efficient, environment-friendly, and meets all the safety norms. Certainly, not a bad bargain for Rs. 1 lakh. Here is how Ratan Tata revolutionized and democratized the passenger car segment with his "People's Car" named Nano.
 
 
 

The one-page ad in the major newspapers of the nation said it all: "It's here. The new Tata Nano. To end all speculations, debate and talk. And change the way India travels." That ad from Tata Motors was splashed across all major newspapers on January 11, 2008—a day after Ratan Tata, the Tata Group Chairman, announced the launch of the world's cheapest car, Nano, which is more popularly known by its moniker, the Rs. 1 lakh car.

It was at the Geneva Motor show in April 2003 that Ratan Tata revealed that he was pressing ahead with his dream-project of making a $2,000 (Rs. 1 lakh) car. "It's my dream to make the car a reality within the five years I remain as Tata Chairman," the irrepressible man behind the four-door hatchback Tata Indica, who is known to walk his emotional talks, said. The idea, he would reveal later, occurred to him several years ago. It was the image of a lower middle-class man on a scooter, with the elder kid standing in front of him and the wife riding side-saddle at the back with their second child on her lap, that set Ratan Tata thinking: why not create a basic four-seater, four-door car using the components from the region's large scooter and motorcycle industries, which the masses or, more precisely, the millions of scooter and motorcycle riders and three-wheeler users could afford? And when he made his idea public, all the "speculations, debate and talk" that the aforementioned ad refers to began in all earnestness.

 
 
 

The Analyst Magazine, Tatas Nano, Ratan Tata, Tata Motors, Motorcycle Industries, Hong Kong Monetary Authority, HKMA, Jim McCormick, Lehman Brothers, policy-makers, Foreign exchange experts, Foreign Institutional Investors, World Bank, Global Currency Exchange Rates, Global Currency Strategist, Asian Economy.