Mumbai : To arrest falling demand for its ultra-low cost Nano car, Tata Motors introduced a new marketing scheme `Swipe and drive away’, which enables purchasing through credit card.
Under the offering, customers can drive off with the car on the same day. Customers can now swipe their credit card and drive out in a Nano on the same day and convert the entire amount in monthly instalments at no interest over a period of 12 months at an EMI of Rs 8,333 per lakh.
“Customers can also convert the entire amount in monthly instalments at zero per cent interest over a period of 12 months,” a company press release said. The scheme also offers credit period options ranging between three to twelve months.
“This offer will enable customers to own a car in the fastest and hassle-free manner,” Tata Motors passenger vehicles business unit president Ranjit Yadav said.
Tata Nano has partnered with Axis Bank, HSBC Bank, ICICI Bank, Kotak Mahindra Bank and Standard Chartered Bank for the scheme, which can be availed of at 75 Tata Motors dealerships in 26 cities.
Tata Motors’ sales have been falling drastically in the recent months. In February, the total passenger vehicle sales in the domestic market stood at 10,613 units, down 69.53 per cent from 34,832 units in the same month last year. — PTI