Indian carmaker, Tata Motors has posted a de-growth of 8 per cent on a year-on-year basis in September 2024. The company saw domestic retails of 41,063 units in the month as compared to 44,809 units retailed in September 2023. Interestingly, the electric vehicle category saw a drop of 23 per cent including domestic retails and exports  in the month of September 2024. The company posted wholesales of 4,680 units of EVs in the month.

Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. explained that the PV industry in Q2 FY25 saw more than 5 per cent  decline in retails as per Vahan portal as compared to Q2 FY24 driven by slow consumer demand and seasonal factors. 

In contrast, industry offtake was significantly higher than registrations in anticipation of a strong start to the festive season, resulting in a continued buildup of channel stock. In addition, Electric Vehicle sales in the personal segment was affected by the lapse of registration and road tax waivers in key states. Fleet EV sales continued to remain impacted due to lapse of FAME II and non-inclusion of the fleet segment in the PM-eDRIVE scheme.

Tata Motors: Discounts across portfolio

In view of the slow sales, Tata Motors had announced discounts on key models across its lineup. The carmaker has announced savings of more than ₹2 lakh on select models and variants for those who buy them on or before October 31. These models include all Tata cars and SUVs powered by petrol, diesel or CNG. 

Key models from Tata Motors that can be purchased with the benefits of festive discounts include flagship SUVs like Nexon, Harrier and Safari. Tata has also extended the benefits to other models like Tiago, Tigor and Altroz. Besides discounts on price, Tata is also offering additional benefits which include exchange bonus worth ₹45,000.

With its electric vehicle portfolio, Tata Motors had announced that three of its electric cars, including the Punch EV, Nexon EV and Tiago EV, will see their prices slashed by up to ₹3 lakh besides other benefits. However, the discount scheme does not include other electric cars like the Tigor EV or the recently-introduced Curvv EV.

The biggest beneficiary of Tata Motors' festive discount scheme is the Nexon EV. The carmaker is offering up to ₹3 lakh discount on the electric SUV that rivals the likes of Mahindra XUV400 and MG ZS EV. The Punch EV, which is one of the best-selling electric cars in India, has also seen its prices go down in the discount scheme. One will be able to save up to ₹1.20 lakh on the electric SUV with the base variant now costing just under ₹10 lakh (ex-showroom).

The Tiago EV, Tata's smallest and most affordable electric car on offer, has also seen its prices slashed by ₹40,000. The festive discount offer has reduced the price of its entry-level variant to ₹7.99 lakh (ex-showroom).

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