After the launch of the world’s cheapest car Tata Nano in the year 2008, Ratan Tata the chairman of the Indian multinational conglomerate Tata Group said that the Nano was anticipated to be a great success. Tata even confessed that the company wasted an early opportunity of capturing the mass market segment but is still expecting that the cars has great potential in the developing world.
Tata said that Nano was positioned as an affordable family car only and not as a poor man’s car. But since the launch of the Nano in the market, the company has been facing a number of issues like setting up of the production plant at West Bengal.
Later there were also incidences of fire eruption incidents after which Tata had offered to incorporate safety equipments. The company had also reported the replacement of starter motors in more than 1.4 lakh Nano cars.
In the Annual report of the auto maker of the financial year 2011-12 Ratan Tata mentioned that with the fundamental economies offered by Tata Nano it will ensure a concrete stand in the Indian auto market. Tata even mentioned that the sales of the Nano had noticed an upward trend as compared to the overall passenger vehicles sales of the company.