Bank of America is offering a range of finance schemes for the car. There will be five dealer outlets in Mumbai with more expected during the course of the year. BankAm officials said the initial response from consumers was encouraging and during the two days the car has been on display, there have been over 200 enquiries.

The Santro will make its entry around the same time as Daewoo's Matiz which is a 796 cc petrol-driven model. The Daewoo small car is expected to sport an on-road price tag in Mumbai of around Rs 3.2 lakhs and will be a strong rival to the Santro.

Customer reaction to Hyundai's offering has been mixed though the general impression is that it is a `sturdy car'. People have not been too pleased with the rear van-like appearance but have welcomed the interiors and the adequate boot space. Hyundai officials had, at the recent Auto Expo in New Delhi, stressed that the Santro was the best bet in the safety department and crash tests had proved this substantially.

Though the company has maintained that it is not going to offer a diesel alternative, auto analysts believe that it would be to Hyundai's advantage in doing so. Indian consumers have, of late, shown a marked preference for diesel-driven cars, given the price of the fuel, and this has actually compelled manufacturers like Maruti Udyog to dieselise the Zen.

The real threat to both the Santro and Matiz will come from Telco's car codenamed `Mint'. The vehicle, fitted with a 1400 cc engine, will be available in both diesel and petrol versions. If the reaction at the Auto Expo is anything to go by, the `Mint' will be the car to watch out for. Consumer expectations are very high and Telco is believed to be going all out to ensure that the car does well in the market.