The world's first gold jewelery car is made from 80 kilos of 22-karat gold, 15 kilos of silver and numerous gemstones.

Tata Motors and Titan Industries unveiled the Goldplus Nano in Mumbai on Monday.

It's a one-off version of India's people's car encased in 80 kilos of 22-karat gold, 15 kilos of sliver and 10,000 semi-precious and precious stones: rubies, pearls ... you get the picture.

“Around 500 years from now it would be quite a family heirloom, wouldn’t it?” said C.V. Venkataraman, the chief operating officer of the jewelry division of Titan Industries.

A regular Nano costs about US$3,000, or just under Rs 150,000. This baby, at $1,819 per troy ounce, more like US$4.68m, making it one of the most expensive cars ever displayed.

Others were less impressed.

"As flashes popped, the car appeared, looking like nothing so much as a golden version of the faux-silver horse-drawn carriages that trawl Mumbai’s famous Marine Drive, gold hubcaps and all," blogged Neil Munshi of the Financial Times.

The bejeweled car will be on the road (well, not literally) for the next six months as the company displays it in the towns where it operates.

"At the media event today, there was little mention of August sales figures -- at 1,202 units, down 88 percent from April’s 10,012 units, and dipping dangerously close to November 2010’s all-time low of 509. For a car that launched with a 100,000-customer waiting list in 2008, these are dire times indeed," Munshi wrote.