Tata Motors will increase the prices of its entire passenger range comprising petrol-powered and electric models from July 17 in India. The Nexon, the Harrier, the Altroz, and the Tigor are some of the cars which will become expensive by 0.6% on average. According to the company, the ongoing effects of earlier frictions in input costs necessitated this increase. It further announced that customers who reserve their cars by July 16 and receive deliveries by July 31 will be immune from the upcoming price hike. In a recent development, the auto giant disclosed its sales data. It sold 2,26,245 units in the domestic and international markets during the first quarter of FY 2023–24, down from 2,31,248 vehicles during the same period last year.
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Tata Motors Electric Future Plans
Tata Motors has devised several strategies to expand its market share for electric vehicles, and one of them is increasing its production ability. Tata Motors plans to ship 8000–10,000 electric models, a boost from the present monthly average of 400–5000 units by the end of the next fiscal year. Additionally, it hopes to increase production from the existing average of 55,000 to 60,000 units per year with the Nexon and Tigor EVs to 1 lakh units by FY24. It also plans to create 1 lakh electrified cars over the next 12 to 18 months. Tata Motors holds an 87% market share in the domestic electric PV market, which witnessed sales of 21,972 units in the first half of the current fiscal year. Beginning in 2025, it plans to dispense a new electric vehicle (EV) at least every two years in the market.
Also Read: Nexon, Tiago and More Tata Electric Cars' Waiting Period Goes up to 3 Weeks in India
Tata Nexon EV: Sales Milestone
The Nexon EV surpassed the sales milestone of 50,000 units in India. The electric vehicle has consistently been among the best-selling models and accounts for up to 15% of all Nexon sales, claims the corporation. Presently, it is available in more than 500 Indian cities. The EV comes equipped with features, including leatherette ventilated seats, an electric sunroof, an auto-dimming IRVM, a wireless charger, etc. Additionally, the electric model gets ESP with iVBAC, an electronic parking brake with auto hold, dual airbags, all-disc brakes, and other safety features.
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