Tata Motors, the country’s largest auto maker by revenue, has announced a new scheme on its flagship Nano hatchback, which is said to be the first-of-a-kind deal in the Indian auto market. According to company, the interested buyers can now just swipe their credit cards and drive out a new Nano on the same day. Making the offer more tempting, buyers can also switch the entire amount of the model in monthly instalments at 0 per cent interest for tenure of 12 months. In this option, the EMI will be of Rs. 8,333 per lakh.
Expressing his views on the new scheme, the President of Passenger Vehicles Business Unit at Tata Motors, Ranjit Yadav, was quoted as saying, “We are proud to offer this industry first phenomenon to our customers. This offer will enable customers to own a car in the fastest and hassle free manner. With the introduction of this offer, consumers get the benefit of converting the entire amount on the credit card into interest free instalment, spread over a period of 12 months and manage monthly cash flow better. We would like to thank all our partner banks who have supported this special offer, exclusively for the Tata Nano.”
He further said, “Our customer-centred cars are being backed with customer-engaging purchase experience at our dealerships. We realise that we can become a leader when the after-market experience levels are excellent, not only in pockets, but across our chain. We are bringing in enhancements with equipment, manpower and processes for fast service.”
For this offer, Tata Motors has partnered with five banks of the country, namely Axis Bank, HSBC Bank, ICICI Bank, Kotak Mahindra Bank and Standard Chartered Bank. Buyers who have a credit card of these financial institutions can avail the offer in 26 different cities, across 75 official dealerships of the company.
Besides, the company has offered a luring scheme with its flagship Manza sedan. According to Tata Motors, individuals will be provided with 60 per cent cash back of the purchase value of their models, if they wish to sell their cars to the company itself, three years down the line. The move is anticipated to revive sales of the auto maker, which witnessed not so good times in February 2013. During the period, the auto maker recorded a fall of around 70 per cent in its monthly sales over corresponding period of year-ago period. On this offer, the auto maker said in a statement, “Tata Manza has...introduced the 'Club Class Buyback Assurance'. With the Club Class Buyback Assurance, Tata Motors offers its customers 60 per cent of the purchase price after three years.”
Industry experts believe that the auto maker is quite aggressive in order to end the ongoing fiscal at a good note. During the initial days of March 2013, Tata Motors reduced the prices of its Indica and Manza family by up to Rs. 50,000 to prevent the dwindling sales in the coming months. With this scheme, interested individuals can now buy a new Manza for Rs. 6 to 8.14 lakh (ex-showroom, Delhi).