The cheapest car in the world, the Nano from Indian Tata Motors, is unlikely to be sold after 2019 as its sales have been declining for a long time, Indian media reported.
The current Nano “cannot continue beyond 2019,” stated the largest car manufacturer in India, adding that the decade-old Nano may need fresh investments to survive, according to the Indian financial daily Mint.
A recent regulatory filing indicates that only one Nano vehicle was produced in June, compared to 275 in the same month last year. Local sales fell from 167 vehicles in June last year to just three this year.
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When the Nano was first introduced in 2008, it was branded as a “people’s car” with an average price of $2,500. However, the vehicle only reached the market a year later.
The delayed launch of the Nano, along with subsequent reports of its self-ignition, dampened consumer interest. Sales of the Nano have drastically decreased since 2013, even though the Indian car market is growing strongly.
Analysts say that the initial sales idea of the Nano as the cheapest car in the world may be problematic. The commitment to a low price has made it difficult for Tata to implement new equipment and improve the Nano’s capabilities.
Moreover, the fact that people view cars not only as a means of transportation but also as a status symbol has deterred many from purchasing a brand known as the cheapest.
