Tata Motors Issues Refunds on Unsold Nano Forms

Thursday 21 May 2009, 00:00 AM by Rishi

Tata Motors is refunding money for the unsold forms of the Tata Nano to its dealers. Dealers had over-estimated the demand for these forms and had bought forms from the company at a price of Rs. 250. They had sold them at a premium of Rs. 50 but had managed to sell only 30-35 percent forms. Consumers stayed away from the booking process due to confusion over the booking process, unavailability of test drives and importantly an uncertainty over delivery schedules.

“The company has informed us that the Nano form money would be refunded. We were unable to sell more than 50% of the forms bought by us,” said a Mumai based dealer.

These unsold forms still lie with the dealers and they had requested the company to refund the amount for the unsold forms as the amount is substantial. Earlier the company had informed the dealers that the money will not be refunded but now they have been intimated that the company is ready to refund the money for these forms.

“We had approached the company and requested about the refunding, as the amount is quite substantial. The company initially asked us to wait but now, we have been told that the amount would be refunded.” According to a spokesperson of Tata Motors,”These matters are internal to the company, and Tata Motors does not wish to comment.”

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