Indian auto giant Tata Motors, after a hiatus, will soon be introducing its small car Tata Nano for the US and European markets. Ratan Tata, the chairman of the company, announced plans to introduce the Tata Nano for $3000 to the US market within three years.
Tata also informed that the Nano will be modified as per sales requirements in the US and European markets. The current Nano is powered by 37 hp two-cylinder engine, however it comes without some safety features such as power steering, traction control and airbags.
Originally, the Nano was introduced in the Indian market to provide a low-cost car for families who could not afford a costlier car. The Nano was also launched to compete against the two-wheeler market including scooters and motorcycles. The new Nanos are set to have the required safety equipment, more space and an engine with fewer emissions. This will also mean that the price of the car will be increased.
The chairman, Rata Tata said, “The Smart and the Fiat 500 have high sticker prices, and people buy them because they are small cars”. In the US market, Nissan’s Versa is the cheapest car on sale, which has a starting price of $12, 770.