Tata Motors' micro SUV to take the bestseller crown this year
Tata Motors' Punch is poised to climb 6 places and become India's top selling car model in 2024, as per data from Jato Dynamics. The micro SUV model will be overtaking 2023 leader Maruti Suzuki's Swift besides others like Hyundai's Creta, Tata's Nexon and Maruti's Wagon R, Baleno and Brezza models this year.
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Tata's Punch clocked a compound annual growth rate of 73% from 2021 to 2024 in unit sales, the fastest among all the models since its launch in 2021. Among other factors, Tata Motors' strategy to offer multiple powertrains spanning petrol, CNG and electric helped the vehicle maintain its sales momentum, and surge from the 7th position in 2023. Tata Motors is likely to end the year with a record 200,678 units of the Punch, ahead of 187,225 units of the Wagon R. Creta, Ertiga, Brezza, Swift, Baleno, Scorpio, Fronx, and Nexon are the other eight models in terms of sales rankings.
The vehicle's weighted average price excluding discounts and incentives is estimated at ₹8.38 lakh in 2024, rising 9% from last year. Average weighted price is calculated by multiplying each variant of a model with units sold. Sum of all these-variants multiplied by the number of units of each-is divided by number of units sold.
Tata's Nexon, which is estimated to have slipped to the 10th position from fifth in 2023, is likely to end
