Friday, February 27, 2009

The $2,000 car you can't buy

Tata Nano © Saurabh Das/The Associated Press

Extra2/26/2009 5:30 PM ET

The $2,000 car you can't buy

The much-anticipated Tata Nano -- at just half the price of the next-cheapest car in the world -- will be sold in India beginning in April. You won't find it in the US, though.

By MSN Money staff and wire reports

The cheapest car in the world is expected to begin rolling off assembly lines March 23, seven months behind schedule.

India's tiny Tata Nano, priced at 100,000 rupees, or about $2,000 at current exchange rates, will not be sold in the United States. Cars will reach dealerships across India in April, and production for the first year is expected to reach 250,000 vehicles.

The Nano's unveiling in January 2008 caused a stir worldwide and especially in India, where there are fewer than 10 cars for every thousand people, compared with 40 per thousand in China and 450 in the U.S.

Indians bought about 1 million cars in 2007. Far more middle-class Indians buy and transport their entire families on scooters.

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