If you’ve been reading about the new ultra-low-cost vehicle in India, the Tata Nano, and getting ready to buy one when it comes to the US, you might be a little disappointed to find it will cost slightly more than a bag peanuts and Coffee Crisp.

When the Tata Nano received it’s official North American debut at the recent Detroit Auto Show, rumors swirled that the final price tag might be as low as $5,000. Unfortunately, an inside source has confided to the Detroit News that the price tag will actually look more like $8,000 when the car hits dealer lots in the US in 2013.

The base model cost of the Nano in India, where it’s manufactured, runs for around $2,000.

Under the hood the Nano boasts a whopping 2-cylinder engine that can run at 56 mpg and has a decent carbon dioxide output at 101 gm/km. Whether the Tata Nano can be considered environmentally friendly is another matter altogether though. Aside from still relying on gas, it’s low price tag will probably mean that thousands of people who relied on even lower emitting vehicles, like scooters and even bicycles, will be upgrading to the Nano.