Asia Bizz: Indian auto manufacturing giant’s head Ratan Tata, on January 5, 2012, confessed that the company made a few mistakes with its Nano. Since its launch, the Tata Nano car has been named as the cheapest car in the world, but failed to grab sales due to many reasons.

Ratan added that they now want to change the perception and want it to be known as the ‘poor man’s car’. At its launch, the company expected that the sales would leave behind all the other hatchbacks in it segment but unfortunately the car failed to develop interest in the customers.

Apart from the poor marketing, some of the series of technical problems like catching fire in the engine were responsible for the drop in the sales of Nano. Tata, while talking about the early days of sales, said that they were not adequately prepared with an advertising campaign or a dealer network.

Despite admitting to the drawback, the chairman said that he is still confident about the future of the car in the Indian market where millions of people are now moving towards the middle classes. According to analysts, the Nano was seen as a vehicle for the people who could afford an upgrade from a motorbike to a car.