Tata Nano hits used-cars market

Mumbai, Sep 21: Just two months after Tata Nano hit the roads, the peopl's car has quickly made its way into the second-hand cars market where it is fetching a premium of about 1/3rd its original price.

Nano is selling at Rs 25,000 to Rs 35,000 premium which is 18 to 20 per cent more than the booking price.

According to the dealers the reasons behind this trend are limited allotments and long waiting periods and also since Tata Motors has not yet disclosed when bookings for the Nano will reopen.

Apart from this, the customers who are named in the first allotment list of 100,000 cars are also selling their allotments though at lower premiums.

For instance, premiums for December deliveries range from Rs 5,000 to Rs 8,000. The allotments are made by the original buyer.

And those who are selling the cars either don't want to wait for the delivery which could be three months to a year, or are in need of cash.

OneIndia News