TATA Nano-The world's cheapest car

The Tata Nano is a city car launched by India's Tata Motors. The model was unveiled at the 9th annual New Delhi Auto Expo on January 10, 2008 at Pragati Maidan, New Delhi, India. The initial production target set by Tata Motors is 250,000 units per year.
According to Tata Group's Chairman Ratan Tata, the Nano is a 33 PS (33 hp/24 kW) car with a 624 cc rear engine, making it the first time a 2-cylinder gasoline engine will be used in a car with a single balancer shaft, and has a mileage of 4.55 L/100 km (51.7 mpg (US), 62.8 mpg (UK)) under city road conditions, and 3.85 L/100 km on highways (61.1 mpg (US), 73.4 mpg (UK)).
Tata claims that the Nano complies with Bharat Stage-III and Euro-IV emission standards. The Nano is 21% more spacious from the interior and 8% smaller from the exterior as compared to its closest rival, the Maruti 800. The standard version (without air conditioning, radio and power steering) will cost Rs 100,000 (not including levies such as VAT/LT, transport and delivery charges) (US$2500, GB£1277, €1700), making it the cheapest production car in the world. The choice of price has led to the Nano being called the "1-lakh car". The car will come in different variants, including one standard and two deluxe variants. The Deluxe variant will have air conditioning, but no power steering.