Tata Motors produced only one unit of its Nano car model in June, sold three units domestically and exported none, monthly data by the company released on Wednesday showed. In the same month last year, the company had produced 275 units of the model, sold 167 in India and exported 25.
The company had launched the compact car in 2008, claiming it as the world’s cheapest car. It was priced at Rs 1 lakh at its launch, and was touted as an alternative for families driving two-wheelers.
“We are well aware that the Nano in its present form cannot continue beyond 2019 and may need fresh investments to survive,” a company spokesperson told PTI. “No decision has been made yet in this regard. We continue to produce Nano catering to customer demand in key markets.”
Former Tata Sons Chairman Cyrus Mistry had earlier claimed that Nano had consistently lost value and called it one of the “legacy hotspots” without a “line of sight to profitability”. He had also claimed that Tata Motors did not stop producing the car due to “emotional reasons”, according to PTI. The car was a brainchild of former group chairman Ratan Tata.