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World's cheapest car makes debut

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Young drivers in India could balance out the costs of buying a vehicle and taking out expensive car insurance by purchasing the world's cheapest car, which has made its official showroom debut.

The Nano, by Tata, costs £1,300 and will be on display at dealerships across India from April 1. Customers can order with just a £4 deposit.

Chairman Ratan Tata said: ""It is an Indian car being produced in India. We are overwhelmed by the reaction. We wanted a find a safe way to transport Indian families at an affordable price."

He continued: "Since the inception of the idea, a lot of things have changed including the global meltdown and other factors. We promised to bring out India's cheapest car. A promise is a promise and we had to keep it," Mr Tata said.

Resham Singh, showroom and sales manager at Sanya Motors, New Delhi, said: "The Nano is a value-for-money car. Apart from the price, it has better designs than what is available in the market right now."

Tata Motors, which owns Jaguar Land Rover, recently announced its first quarterly loss in seven years, and it hopes the Nano will turn this around.

© Press Association 2009