»Tata Nano – the world's cheapest car-is likely to lose its much hyped price tag due to the rising costs of materials, labor and taxes, the Economic Times of India reported on March 14, Xinhua reported.

»The report quoted an analyst as saying, India has seen 25 percent hike in steel price since April 2009 and the prices of tyres and car accessories also rise continually together with the increasing demand of raw materials such as copper, aluminum and plastic. Therefore, the Nano will not remain a 100,000-rupee (about 14,800 yuan) car as costs rise.

»Described as India's "People's Car," the Nano is pitched at the country's aspiring middle-classes and labeled as the "world's cheapest car."

»At least 26,500 Nanos have been sold since its lauch in July last year.