August 22, 2013: Tata Motors is planning to position the Nano as a smart city car and will equip it with power steering, new interiors and better fuel efficiency. Chairman Cyrus Mistry, addressing his first Annual General Meeting yesterday, made these remarks in response to a shareholder’s query that the Nano is perceived as a cheap car and that is not going down well with potential buyers. Mistry said the re-positioning is aimed at getting younger buyers to choose the Nano.

The company is also launching a CNG version, first unveiled at last year’s Auto Expo, before the festive season. The Nano sold 31,790 units for the period August 2012 to July 2013, down 58 percent from 77,091 units sold in the previous 12-month figure.