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Tata Motors launches special finance scheme for Nano


In a bid to push up sales, Tata Motors today announced a special finance scheme by which a customer will get within 48 hours loan for its small car, Nano.

Tata Motors Finance (TMF) will provide finance up to 90 per cent for the Nano at easy rates. TMF, which provides customer finance for all Tata Motors vehicles, is present in all the 540 passenger vehicles outlets of the company, Tata Motors said in a statement here.

The move may help boost Tata Nano’s flagging popularity, as sporadic incidents of the small car catching fire has made it difficult for the company to push Nano sales.

Despite a number of assurances by the company through various campaign initiatives, the number of units sold, has declined from 9,000 units sold in July to the low of 509 units sold in November.

Last week, the company had announced a four-year or 60,000-kilometre manufacturing warranty on its small car Nano to woo customers.

“The Tata Nano will now come with a four-year/60,000-km (whichever is earlier) manufacturer’s warranty, at no extra cost. Besides being applicable on new deliveries, the warranty is also being extended to all existing owners of the car,” the company said.

Besides, it had said all new Nano customers will have an option to avail a comprehensive maintenance contract at Rs 99 per month. “These benefits will further enhance the satisfaction of Tata Nano users,” it said.

Tata Motors earlier this month had asked Nano buyers to bring back their cars to add safety devices free of cost to prevent the vehicles from catching fire but insisted it was not a recall.

The company even after registering 85 per cent fall in sales in November this year, claimed that customer satisfaction with the small car was high.