NEWS & ADVICE : CAR LOANS
Nano Booking goes high on Day one
By Vaibhav Aggarwal
Apr 13, 2009
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The Tata Nano that started its booking on Thursday, April 9th saw a lot of rush on its first day. State Bank of India (SBI) alone witnessed around 1.5 lakh bookings for Nano from its various branches on day one.

The bank's Chairman, O P Bhatt is also expected to make a formal statement on the overwhelming response to Nano on the first day of booking.

Meanwhile a report by Financial Chronicle says that the company expects to receive over six lakh applications during the booking period that ranges from April 9th to April 25th.

Chief Operating Officer of Titan, Harish Bhat says, "The response we got is pretty amazing. We started selling forms from the beginning of this month and have already sold around 9,000-10,000 forms. We are also seeing a lot of interest from people in tier-II cities."

Ajit Joshi, CEO, Croma said, "The response has been quite encouraging. However it is too early to divulge any numbers on the bookings."

Although there are many request into the stores but many of them have not been converted into actual bookings as the applicants are asked to furnish proper documentation. "Customers need to furnish a few documents to get the forms. Most of them may not be carrying documents such as ID proof, passport size photographs on the first day. We are expecting people to come back during weekends and toward the close of booking on 25th," said Westside head of Marketing, Smeeta Neogi.

These outlets of Tata Indicom and World of Titan are selling the forms but are not accepting the bookings. The outlets are experiencing a good sale of the forms. Wetside is selling an average of 100-150 forms per day from April 1st.

Tata Motors, head of corporate communications, Debasis Ray said, "The bookings have just started today. We would be announcing the total number of bookings received a couple of days after close on 25th."

However a Tata Motors dealer in Mumbai said, "We have not received any bookings, yet. In last nine days, we sold over 2,000 forms to customers."

"We have sold over 2,000 forms since April 1 and have received 200 bookings so far," said Vikas Sheel Bakshi of A-One Motors, one of the biggest Tata Motors' dealers in Delhi.

He informs that a majority of the customers have opted for a financing option.

 


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