Latest cash discounts and corporate discounts are in addition to the reduced prices announced for Tata EVs last month in September
With multiple options in the entry-level EV segment, Tata Motors has acquired close to 2/3rd market share. To boost sales during the festive season, prices of select variants of Nexon EV, Punch EV and Tigor EV were recently reduced by up to Rs 3 lakh. And now, Tata has announced more savings for potential buyers.
Tata Punch EV – Up to Rs 26,000 savings
For both the MY2023 and MY2024 models of Punch EV, Tata Motors is offering a cash discount of Rs 20,000. In addition, a corporate discount of up to Rs 6,000 can also be availed by eligible customers. The cash discount is being offered in the form of Green Bonus.
Earlier in September, Tata Motors had announced the Festival of Cars festive offers for select electric models. Punch EV was also part of this offer, with prices reduced by up to Rs 1.2 lakh on select variants. Punch EV is now more accessible at a starting price of Rs 9.99 lakh, as compared to Rs 10.99 lakh earlier. For the top variant, prices were reduced from Rs 14.99 lakh to Rs 13.79 lakh.
Tata Tiago EV – Up to Rs 56,000 savings
Customers planning to buy Tiago EV can access max savings of up to Rs 56,000. Provided that they choose the mid-spec XT variant with the 24-kWh battery pack that offers a range of 275 km. A cash discount of Rs 50,000 and corporate discount of up to Rs 6,000 is applicable on this variant of Tiago EV. Folks buying the entry-level XE or XT (smaller 19.2 kWh battery pack) variant of Tiago EV can benefit from a cash discount of Rs 10,000. Variants with the smaller battery pack offer a range of 221 km.
Last month, the top variant of Tiago EV had witnessed a price reduction of up to Rs 40,000. It is now available at Rs 10.99 lakh, as compared to Rs 11.39 lakh earlier. Base variant of Tiago EV is available at Rs 7.99 lakh. With the latest cash discount and corporate discount, Tiago EV has become even more accessible.
Managing headwinds
While OEMs announce festive offers every year, the recent price cuts and cash discounts and corporate discounts for Tata EVs could also be a strategy to overcome negative market sentiments. At a time when the EV segment is expected to register strong growth, the MoM numbers for electric car sales show an overall decline of -7.32% in September 2024.
Even the second best selling electric car brand MG Motor has registered negative MoM growth in the month. In the mainstream EV segment, Mahindra and Citroen have registered strong growth. Although, actual sales numbers are a small fraction when compared to ICE car sales.
Talking about Tata Motors, the company is contemplating other measures as well to boost sales. For example, the BaaS (Battery as a Service) option can be introduced for all Tata electric cars. With BaaS, customers will be able to access these EVs at a lower price point. Recently launched MG Windsor EV received 15,176 bookings in a single day. It is evidence of the immense potential of the BaaS program.
