Click it and Unblock the Notifications
Tata Motors Cuts EV Prices By Up To Rs 3 Lakh To Spur Sales
Tata Motors has significantly reduced prices for its electric vehicles, including the Nexon EV, Punch EV, and Tiago. This price cut, up to Rs 3 lakh, is available until October 31, 2024. The move aims to boost sales during the festive season amid slowing demand for electric vehicles.
Nexon EV Price Reduction
The Nexon EV now costs between Rs 12.49 lakh and Rs 16.29 lakh, reflecting a reduction of up to Rs 3 lakh depending on the variant. Previously, it was priced between Rs 14.49 lakh and Rs 19.29 lakh. The base model's price has dropped by Rs 2 lakh, while the top-spec variant is now cheaper by Rs 3 lakh.
Punch EV Price Reduction
Similarly, the Punch EV has seen a price drop. It now ranges from Rs 9.99 lakh to Rs 13.79 lakh, down from its earlier range of Rs 10.99 lakh to Rs 14.99 lakh. The base model is more affordable by Rs 1 lakh, and the top-spec variant sees a reduction of Rs 1.20 lakh.
Tiago EV Price Reduction
The Tiago EV's top-spec variant is now priced at Rs 10.99 lakh after a reduction of Rs 40,000. However, the base price remains unchanged at Rs 7.99 lakh.
Other Details
Interestingly, Tata Motors claims this price revision brings the cost of the Nexon EV closer to its internal combustion engine (ICE) counterparts. Regular petrol and diesel variants of the Nexon are priced between Rs 8.00 lakh and Rs 15.80 lakh.
Earlier this month, Tata Motors had offered discounts of up to Rs 2 lakh on its electric vehicles. These discounts appear to have been combined with the current price cuts.
Additional Offers
Tata Motors is also providing six months of free charging at over 5,500 Tata Power charging points across India as an added incentive for purchasing an EV during this festive period.
Despite these reductions, Tata dealerships are not expected to offer additional discounts or benefits on these models beyond what has already been announced. It’s worth noting that there has been no price revision for the Tigor EV in this round of adjustments.
This strategic move by Tata Motors aligns with their recent reduction in prices for their entire ICE lineup by up to Rs 1.80 lakh as part of their festive season offers.
The revised pricing strategy positions both the Punch EV and Tiago EV closer to their ICE counterparts for a limited time. This initiative could potentially attract more buyers towards electric vehicles during the festive season when consumer spending typically increases.
Continue with Google