Leading Indian automaker Tata Motors has announced that from September 2021, the company will be increasing the prices of its passenger vehicles. Tata Motors has said that the increase in price will be on an average of 0.8%, depending on the variant and model. Tata Motors has not mentioned the reason behind this increase in price. Interestingly, the price announcement by Tata Motors mentions a price increase having an average percentage but has not given the complete details of by exactly how much this price hike is going to be and which models are going to be affected.
Recently, Tata Motors said that the demand for the EV version of the Tata Nexon is as high as the car’s diesel variant. The Tata vehicle is available in all three engine options — diesel, petrol and EV. Tata Nexon EV is also the highest-selling electric vehicle in India at present.
PB Balaji, Chief Finance Officer of Tata Motors told GaadiWaadi that the Indian carmaker has got an “almost similar” number of bookings for Nexon EV in comparison to Nexon diesel. He opined that it is the combo of subsidies provided by the government and FAME-II benefits that have led to the vehicle’s demand. He revealed that Tata is hoping to witness a 5% share for Nexon EV in its total sales volume. As of now, 650 units of the Nexon EV have been sold since July 2021.
Currently, the Nexon EV has a 71% share in the electric vehicles segment. Till now, Tata Motors has registered a sale of 1,716 units in the first quarter of the ongoing financial year. The EV version of the SUV is offered with Sport and Normal driving modes.
“Continuing with its commitment towards customers, and acknowledging the faith and confidence they have reposed in Tata Motors’ New Forever range, the company will offer protection from the price increase to vehicles that will be retailed on or before 31st August 2021," said Shailesh Chandra, President Passenger Vehicles Business Unit, Tata Motors.
The four-wheeler draws its power from a magnet DC motor that churns out a peak power output of 127 PS and 245 Nm of maximum torque. The engine is powered by a 30.2 kWh, high-voltage, lithium-ion battery pack. The car that can go from 0-100 mph in only 9.9 seconds is priced from Rs. 13.99 lakh (ex-showroom). Tata Motors has also launched the Dark Edition of Nexon EV.