End of the road for Tata Motors' Nano car? Just one unit produced in June
Nano, which was unveiled in January 2008 at the Auto Expo with much expectations of being the people's car, could not live up to the billing. The car was launched in the market in March 2009 with an initial price of close to Rs 1 lakh for the basic model despite cost escalations, with Ratan Tata insisting that "a promise is a promise".
Ratan Tata had admitted that the company made the mistake of promoting the Nano as 'the cheapest car'. Image source: company website