Curvv effect: After Rs 1.2 lakh price cut, Tata Motors hikes discount on Nexon.ev again
Tata Motors has increased discount on its Nexon.ev range by up to ₹60,000 to arrest sluggish sales, according to a communique the company sent to its dealers on Thursday.
The discount takes effect within months of the price reduction of up to ₹1.2 lakh announced on the Nexon.ev range and the ongoing offer. It comes a day after the launch of Curvv.ev, an e-SUV coupe. The move to enhance consumer benefits also signals the company bracing for a rising competition in a weak market and wooing buyers ahead of the festive season.
«Our channel partners are offering these additional, varying benefits locally for a limited period till August 31,» said the company's spokesperson.
Electric passenger vehicle registration (sales) in India have been contracting month-on-month from the beginning of the year. It was down to 7,490 units in July from 8,473 units in January, according to the government's Vahan portal. Tata Motors controls 68% of the market.
The sales of the company's flagship model, Nexon.ev, have been under pressure-with monthly average sales coming down to 950 units in the current fiscal from 1,700 units in 2023-24. This is despite the model getting a major update in September 2023, the first one since it was launched in 2020. Cumulatively, it has sold 100,000 units since its launch.
The already weak uptake is now expected to get dented further as novelty seeking buyers are likely to opt for the competitively priced, feature packed Curvv.ev.
The e-SUV coupe is likely to cannibalise into the Nexon.ev range owing
