Tata Motors moves first $2,500 Nano in Mumbai

We've been following the development of Tata Motors' Nano -- a teeny little car whose main claim to fame is its tiny price tag of about $2,500 -- since way back when it was only an announcement. Well, today the cycle is complete: the first Nano has officially been sold to Mumbai resident Ashok Vichare, who says he bought the car (his first) because it's the smallest and cheapest sold in India. The company held a lottery to decide who could purchase the first 100,000 Nanos, and says its got a waiting list of about a year for further cars.