Currently reading: First Tata Nanos sold on for profit
Early buyers selling budget cars on for 30 per cent profit

Tata Nanos are being resold in India at up to 30 per cent more than the retail price just two months after the car hit the streets, according to reports.

The first Tata Nano customers had to be decided by lottery, after more than 200,000 orders were received for the initial 100,000 cars.

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So far around 2500 cars have been delivered - and some customers are choosing to resell them at a profit.

Mumbai car salesman Arif Fazulbhoy said most of the Nanos to leave his outlet had been resold before they even left the showroom.

"Many of the people who pre-booked a Nano were speculators wanting to make a premium," Fazulbhoy said. "They are lower middle-class people who are happy to on-sell them now and wait until later to buy the car."

The top-end XL model, with central locking and air-conditioning, is reported to have the highest premium on the secondhand market.

However, with greater production capacity about to come on stream, secondhand values are expected to fall significantly in early 2010.

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