Its motor is less than half the size of the engine in a North American Yaris, and it costs less than many of us pay for car insurance.

The Tata Group unveiled the Nano at the New Dehli auto show this week.

The Nano’s been dubbed The People’s Car. It doesn’t look as if there are plans to bring it to North America any time soon, but with any luck, it’ll help bring down the size and the price of sub-compact cars world-wide.

The 4-seater Nano, with an engine around 625 cc, will have a dealer price of 100,000 rupees, or $2,500, and will go on sale later this year. Taxes and profit margins will push up the price for buyers, but it will still cost about half the cheapest car currently on the market, a 25-year old model from rival Maruti Suzuki. full story here