[MetroMPG]

The Model T comparison is appropriate in the big picture, in terms of getting a chunk of the population into cars that weren't in them before - with all its implications.

But the Nano will offer much more performance than the T.

60 mph vs. about 45
50 mpg vs. about 25

Oh - and you don't have to use a hand crank to start it! (Though at 0.6L, a kick starter wouldn't be out of place.)

(Disclaimer: of course, can't vouch for the accuracy of the Nano's figures.)