 Sales of the Nano's nearest competitor, the Maruti 800, fell by 20% immediately following the unveiling of the Nano.It is unknown if the Nano has had a lasting effect on the prices of and demand for close substitutes.In July 2012, Tata's Group chairman Ratan Tata, who retired in January 2014, said that the car had immense potential in the developing world while admitting that early opportunities were wasted due to initial problems.