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India Automaker Unveils US $2,500 Auto

India's Tata Motors has introduced its new Nano automobile, a four-door subcompact that will retail for US$2,500. Ratan Tata, the company's chairperson, has been promising that "the People's Car" would revolutionize the auto industry, making it possible for millions of people in India and developing countries to experience car ownership when they were previously unable to do so. While the car will initially sell only in India, Tata has announced plans to export the vehicle. Multiple news reports say that Nissan Motor Company and its French partner Renault SA are currently researching the possibility of selling their own subcompact vehicle for less than US$3,000. Environmental watchdog groups have expressed fears that the increase in auto ownership in India will create huge traffic jams with long commutes and increased air pollution.


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