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US to get world’s cheapest car

By Tara Baukus Mello · Bankrate.com
Saturday, October 20, 2012
Posted: 6 am ET

The world's cheapest car, an Indian subcompact made by Tata called the Nano, will be brought to the U.S., according to company owner Ratan Tata in an interview with industry publication "Automotive News."

The Tata Nano was introduced in 2009 and sells for about $2,500 in other parts of the world. It will need to be fully redesigned to meet U.S. emissions and safety standards. It also will be upgraded to include some basic convenience features such as heat and cup holders.

As a result, the price of the Tata Nano would increase to about $8,000, according to Tata. While that's far more expensive, it would still be far less costly than the cheapest car in the U.S., currently the Nissan Versa. It starts at $11,990. An $8,000 car would cost about $178 per month at the current average new-car loan interest rate of 3.18 percent for 48 months, according to Bankrate's auto loan calculator.

Ratan Tata said it would take about three years to get the car ready for the U.S. market. No plans for distribution have been announced, though the Tata company also owns the Jaguar and Land Rover brands, so it does have a dealer presence in the U.S..

Tara Baukus Mello writes the cars blog as well as the weekly Driving for Dollars column, providing both practical financial advice for consumers as well as insight into the latest developments in the automotive world. Follow her on Facebook here or on Twitter @SheDrives.

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76 Comments
Rastis Fafoofnik
November 01, 2012 at 6:47 pm

Many of these catch fire on the trip home from the dealership. Both Engine fires and Electrical fires by the dash and steering column. Since there is no power or room for air conditioning, you would be better of with a golf cart....

Bayv
October 31, 2012 at 5:48 pm

I would be surprised if this "automobile" met US safety standards and will certainly not meet California's. No airbags? Only one side view mirror? NOT.

PeterC
October 31, 2012 at 12:06 pm

Isn't this the car that is totally glued together? Elmers or superglue?

Steve
October 30, 2012 at 7:02 pm

SCAM

Bob C
October 30, 2012 at 6:47 pm

And it will probably be as reliable as the Yugo's as well!

Bob C
October 30, 2012 at 6:38 pm

Kind of reminds me of the Yugo back in the day.

B Frank
October 30, 2012 at 4:30 pm

You get what you pay for, period.

B Frank
October 30, 2012 at 4:28 pm

In other words if you get in a minor accident it will fall apart. If you get in a bad accident you'll probably be dead or seriously injured.

Darla T
October 30, 2012 at 3:52 pm

No one said it was the best selling car in India. What they are saying is it's the CHEAPEST!! car. Please read and understand. Thanks

Laurentius
October 30, 2012 at 2:47 pm

The Nano is not the best selling car in India.