New Tata Nano

Tata doubles warranty period for Nano to 4 yrs

Mumbai: To revive sagging consumer confidence in the world’s cheapest car Nano, Tata Motors, India’s biggest auto maker, is working with banks to provide attractive finance packages, while more than doubling the period of warranty on the car.

The company with annual sales of more than Rs 92,500 crore, Thursday said its wholly-owned subsidiary, Tata Motors Finance, a non-banking finance company (NBFC), will provide 90 per cent loan on the ex-showroom value of the car at an interest rate lower than those charged on two-wheelers.



 It has also enhanced the warranty period to 48 months years (or 60,000 km) from 18 months (or 24,000 km). Besides the new deliveries, the extended warranty will cover existing owners, too.
It will also provide new buyers an option to avail a comprehensive maintenance contract at Rs 99 per month, which will help customers take care of running maintenance of the car. The company is in talks with a host of national and regional level banks, and is working with financial institutions at various branches in the remotest part of the states where it has opened sales counter of the Nano.
The car debuted in the market with an aim to provide a better alternative to a two-wheeler, but has been struggling to stay afloat of late amid muted retail demand and unwillingness of banks to provide finance for the car.

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