World’s cheapest car is launched
The Tata Nano, the world’s cheapest car, is being launched in India. Costing just 100,000 rupees ($1,979; £1,366), the Nano is being launched in Mumbai later, before going on sale across India over the next 10 days.Tata hopes the 10 feet (3 metre) long, five-seater car will be cheap enough to encourage millions of Indians to trade up from their motorcycles. Car industry analysts estimate it will take five or six years for Tata to start to make a profit from the Nano.
The basic model has no airbags, air conditioning, radio, or power steering. However, more luxurious versions will be available and a slightly bigger European version, the Nano Europa is due to follow in 2011, but is expected to cost nearer to £4,000.
The rear-mounted 623cc two-cylinder petrol engine produces 33bhp at 5,250rpm and has a single balancer shaft, oxidation catalytic converter, Bosch fuel injection, and a four-speed manual transmission. It meets Euro III and IV emissions regulations and Performance is (hold on to your hats) 0-60 in 30 seconds with a top speed 65mph.
Source: BBC News
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In that case what is the point of a bankers draft over a cheque? 
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