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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: World's cheapest car goes on sale in India AFP - Friday, April 10 MUMBAI (AFP) - - The world's cheapest car went on sale on Thursday, with dealers and the company behind it confident of strong demand despite a slump in global car sales amid the world economic downturn. Bookings opened for orders of Tata Motors' 100,000 rupee (2,000 dollars) Nano at dealerships around the country, with a spokesman describing sales as "encouraging". A steady trickle of customers was seen at Concorde Motors in central Mumbai soon after opening, and by the end of the morning five people had booked a Nano and about a dozen had picked up application forms, which cost 300 rupees each. Prospective buyers are also able to book online for 200 rupees. "The response has been encouraging and is progressively increasing," said the spokesman, adding there were no exact figures on the number of forms sold. Among those booking at Concorde was 82-year-old Naran Rao Pawar, a former assistant commissioner of Mumbai police, who told reporters he used to drive a scooter but wanted to upgrade to a car. "I wanted an independent car of my own. This falls under my budget," he said. Pawar is looking to buy the 140,000-rupee LX version of the Nano, which has air conditioning, a plusher interior, electric windows and central locking. The cheapest showroom price for the standard Nano is 112,735 rupees but it is available for 100,000 rupees direct from the factory, excluding taxes. The basic version has no air conditioning or air vents. However, the Nano hits dealerships as sales of cars worldwide plummet due to slumping demand caused by the financial crisis. Tata Motors, India's top vehicle maker, reported a 13 percent fall in domestic sales for March while total sales for the year, including exports, were 14 percent down. US car giant General Motors -- which is living off US government loans -- has acknowledged it may go bankrupt, while another historic marque, Chrysler, has also taken emergency state aid amid plunging sales. And Japan's Toyota, the world's top-selling car maker is bracing for an operating loss of 4.6 billion dollars in the financial year ended last month. Trader Mohammed Asim Khan was also hoping to get the LX via a lottery to determine the first 100,000 owners and is paying for it through a personal finance deal. The ballot has been devised due to supply problems after manufacturing of the car at a nearly complete plant in West Bengal had to be stopped because of a violent land ownership dispute last year. The new factory in Gujarat state is not due to begin production until the year end at the earliest, so the cars are being built in the meantime at existing Tata Motors plants around India. The supply issue means even those luck enough to win in the lottery, they could still end up waiting for more than a year as only up to 50,000 of the cars will be built in the first 12 months, analysts have said. Khan, in his late 40s and who already has two small Maruti Suzuki cars, said he was buying a Nano for his son, who is just 12 years old. "After six years my son will drive the car. But I want to get it in my possession now," he said. The Nano, unveiled to great fanfare last month and expected to be on the road in July, has been in showrooms since April 1, attracting prospective buyers and curious crowds eager to catch a glimpse of the "People's Car." Tata Motors chairman Ratan Tata has said he hopes the little car, which measures just over three metres (10 feet) long and has a top speed of 105 kilometres (65 miles) per hour, will get millions of Indians off two-wheelers. Tata said he had wanted to create "a safe, affordable, all-weather form of transport" for Indian families. Families of four -- and more -- are regularly seen balancing precariously on motorcycles weaving through the country's notoriously lethal congested traffic. Officials said the Nano website has recorded more than 50 million hits, including more than 20 million hits in the fortnight since the March 23 launch. Dennis Rankine, sales manager at another top Tata Motors dealership, Wasan Motors, added: "We expect strong demand at most of our outlets." Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Moldova economy woes add fuel to political fireReuters - Friday, April 10 Putin says economy needs more power for growthReuters - Friday, April 10 FUNDVIEW-French firm Ventech eyes more China dealsReuters - Friday, April 10 Australia moves to calm China investment fearsAFP - Friday, April 10 Related Articles: Business Ad resembling story appears on front of LA TimesAP - Friday, April 10 Wells Fargo earnings surprise sends market higherAP - Friday, April 10 Fla. attorney general sues maker of Vick chew toyAP - Friday, April 10 A look at economic developments around the globeAP - Friday, April 10 Fitch may cut largest Japanese banks' credit ratingsReuters - Friday, April 10 Enlarge Photo World's cheapest car goes on sale in India Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Harry Potter actor arrested over cannabis find 'Dracula bandit' gets 20-yr jail sentence Study points to calorie-burning fat Journalists get shock with 'sexy' White House call Israeli Jews hold rare prayer to bless the sun View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! 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