Well, you guys, pour one out for the Tata Nano. The world's cheapest car is all but dead.
According to Bloomberg, Tata Motors built one single Nano in June 2018. During the same month in 2017, Tata produced 275. As a final nail in the coffin, Tata told Bloomberg the car "cannot continue beyond 2019."
The Tata Nano entered the Indian market in 2008 priced from just 100,000 rupees, or about $1,500. The price increased over time, and according to Tata Motors' website, an entry-level Nano starts at 236,447 rupees today, or $3,435 based on current exchange rates.
Right from the get-go, the Nano was plagued with production issues, not to mention poor safety and dismal crash test results. The cars were also known to catch fire, which, uh, isn't good.
Don't let the Nano's death tarnish your impression of the Indian automotive market. Bloomberg says most vehicle segments have seen huge growth in recent years; passenger vehicle sales climbed 38 percent in June 2018. Indian customers -- like other global buyers -- are super value-conscious, but the ultracheap Nano proved to be a step too far in the cost-cutting direction. Not evencould help.