Ravi Padmanabhan (padmania@gmail.com)
| |
Hi Ryzers,
A lot has been discussed on their upfront payment here.
This is how it works. In order to become an owner of the celebrated car, the company is asking for a huge upfront payment and hence, if one takes into account all the three versions, a prospective owner will have to shell as much as Rs 1 lakh for his name to appear on the bookings list. The company intends to sell 1 lakh cars initially and even if we assume a ratio of 4:1 between the potential buyers and eventual owners, the total amount works out to a cool US$ 800 m. This is the amount that will remain with the company until the dispatches start in the month of July, after which it may have to return the money to unsuccessful applicants. Furthermore, if these people wish to wait and take delivery at a later date, the company will keep the deposits and pay the applicants close to 9% per annum on their down payment. In hard times such as these, even the blue chips could well give their arms and legs to raise money at such attractive rates. Small the Nano may be, but Tata Motors has indeed pulled out a very big rabbit out of the hat.
-PaddyPrivate Reply to Ravi Padmanabhan (padmania@gmail.com) (new win) |
