Rediff bags Tata Nano account

Mumbai-based Rediffusion DY&R has bagged the prestigious account to handle the nationwide creative duties for the much-touted and long-awaited Tata Nano. The car, which is arguably the world's cheapest car, is slated for launch on 23 March.

Commenting on the win, Mahesh Chauhan, group CEO, Rediffusion Y&R, said, ''The Nano is a collective dream of the Tata Motors team and millions of Indians. We feel privileged that Tata Motors has selected us to partner this dream and share it with India. It is one of the most exciting brands in the country to be associated with.''

It may be recalled that in January 2008, Rediffusion Y&R handled the launch and introductory communication on the revolutionary car that would change the way India travels.

The low-cost Nano, which is expected to roll out on the roads in the first week of May, will be sold through an exclusive financing deal between Tata Motors and State Bank of India, much to the disappointment of other banks (See: SBI, sole booking agent for Nano, freezes car loan rates at 10 per cent

However some of the private sector banks claim that they will launch their schemes only after reviewing the booking pattern of the car. They will make sure that no speculative orders are placed.

At the same time banks will review the varying interest rate considering the income slab of the buyer. The banks feel that most of the car buyers would the two-wheeler migrants and therefore they want be sure of the demand prospectus along with the bank's buyer's ability to repay before coming out with a scheme for Nano.