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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.
here comes another yougo
Would it be asking to-o-o-o much for an article about the world's cheapest car to INCLUDE A PHOTO of it?!?!
If you hold that you should only buy a car made in the US, perhaps you will further restrict yourself to buy only a car made in your state, your county, your town. For the rest of us, we realize that trade is good for everyone who participates. Those who can not participate need to look seriously at finding a productive job, or resign themselves to living from savings or charity.
Yearight, Yearighton. Big time capitalism knows no patriotism and mega capitalism chases cheap labor. So sorry U.S. workers. Yet the U.S. worker bees continue buying cheap Asian goods at Walmart and Target. Go figure. Why would U.S. workers buy anything but made in the U.S? You will never here Rush talking about this, or Ramirez doing a political cartoon that states such. Democracy in the U.S. is a sham. Money equals corruption.
I am in my seventh decade and sadly I am witnessing the U.S. gladly giving up world manufacturing supremacy for cheap goods and a short term bag of riches. The result will not be pretty.
Panama politicos are busy selling off public resources at pennies on the dollar to the rich. I am afraid the U.S. will not be far behind.
I almost got misty there JB... too bad voting is a practice of giving people the Illusion of choices. This is the only "democracy" I know of that only allows TWO parties to vote for. NO other parties can get into elections or debates because they made it fiscally IMPOSSIBLE. This two party system is under tight control. Candidates are prepackaged and preselected to make sure nothing changes for the masses and favors the elite wealth. Warmongering will continue no matter who is in power....that's priority #1..
oops sorry Al, that was JB Bennett talking about the vote...
0f course the price will double to come to the US. Did anyone expect anything less?
James- less EPA means the car builders would build cars that emit more pollutants because those cars are cheaper and thus more will sell. We don't have the current low-pollution cars for any reason other than the EPA standards forced manufacturers to make them that way. These are simple, obvious facts, not "propoganda".
Tony- agreed! The rest of the world is still polluting and moving the world closer to environmental Armagedon. Does that mean that we should do so too? You seem to say "yes". Pardon me while I say "no" and am willing to pay the price to do so. It is indeed idiotic that a polluting power plant should wind up in the Phillipines spewing pollutants- is the answer that all power plants should be polluters simply because some of them are? Once again, you say "yes", I repeat "no".
I grew up in Akron Ohio, in the 50's early 60's it was the "tire capital of the world" now I don't think a single tire is made in Akron. The company Hdqrts. are still in town and some Aerospace, polymer research, car manufacturing (in fairly close by towns)is the "blue collar" industry base.
The United States is a great country. The vast majority of the people want to live in peace and have a reasonable chance for success. I spent 20 years in the Navy saw many, many different countries and types of government. This is still the best form of govt. in the world. If you believe in ultra right or ultra left or someplace in between you can voice your opinion this Tuesday. DO IT. For yourself and your opinion just Vote. Remember next year to vote in any local elections.
You want to have less Government. VOTE.. You want more regulatory oversight. VOTE... Leave the lies, false statments and PAC $$$ behind. Vote for what you believe is best for you, your family, and your country.
Remember the YUGOS, those last 2 years