I am not going to explain here what black market is all about, however just trying to explore how it relates to the latest ‘Nano’ buzz in Auto segment.
So far I heard of black market present for pirated CD, DVDs, equity trading, comodities market, during IPO, even in sports like cricket, however I got Stunned when I heard in auto sector people started betting on Nano, india’s most awaited car manufactured by
Tata Motors.
Black markets involve the buying and selling of goods and services in violation of laws or government mandates.
People are getting crazy about Tata’s wonder car Nano which is expected to be soon on Indian roads The news started coming in that hundreds of black marketers have spread themselves across, banks and outlets to make ‘Nano deals’
This is very unusual, Cars usually gets resold to the lower price than brought however Nano going to set new records,
if a person gets the nano he can sold to it on high premiums.
I believe it will all depends on to how many bookings the Nano gets! With the delivery fixed at 1 lakh cars when the lottery begins in June. Black marketers are expecting somewhere around 15-20 per cent premium which could even go up to 40% since the demand has already gone to crazy level. As news start coming in Experts say in the case of the Tata Nano, people may pay a premium that could go as high as Rs 20,000.
After a very long time India is witnessing such hype. Earlier known hype was with Maruti 800, the initial premium was as high as 100 per cent. As per old data Maruti cashed in launching the ‘tatkal’ scheme.
All the best Nano
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