Tata Nano, the world’s cheapest car and the dream project of Tata Group chairman Ratan Tata had been predicted to change the auto industry dynamics at the time of its launch but now few years down the line, nothing o that sorts has happened. But still the Tata Group Chairman has not given up on hope for the ``small wonder’’. Ratan Tata, who had admitted that Nano 'wasted an early opportunity', has not given up hope on the small car, saying it has enormous potential "throughout the developing world". According to reports, in the Tata Motors' Annual Report for 2011-12, he has mentioned "The fundamental economies of the Nano...Will continue to establish itself in the Indian market with a wider sales and service network." "The potential market for such an affordable car is enormous throughout the developing world. In 2011-12, sales of the Nano increased over the previous year, although the overall passenger car sales of Tata Motors "were below expectations". Last fiscal, Nano clocked sales of 77,989 units as against 70,433 units in the previous year, up 10.73 percent. Sales in the domestic market stood 74,527 units, while exports were at 3,462 units in 2011-12. In January, Tata admitted that Nano had 'wasted an early opportunity' due to teething problems. The reports stated that Tata had also lamented that many efforts were made to "discredit the product (Nano)". "We never pushed it (Nano) as a poor man's car, but as an affordable family car. Whatever stigma is there in the market, we will undo it." Initially, Nano had faced problems like fire incidents, following which the company had offered to installed safety devices. Tata Motors had also replaced starter motors in about 1.4 lakh Nanos.