New Tata Nexon Electric
Tata Nexon EV is the best selling electric car in India
As Tata Motors gets set to celebrate 1 year of the launch of the Nexon electric compact SUV in India, the company has announced sales of 2600+ units for the year 2020. It may be remembered that while the Nexon EV was launched on 28th January, 2020, sales only took off from March after which the lockdown was immediately announced.
This ‘Made in India’ electric car then slowly saw its sales increasing from May 2020 with sales at 78 units. It noted a significant increase each month thereafter to 1,253 units between the months of October to December 2020, thus taking total to 2,602 units. December proved to be the best month of sales with 418 units sold. The Nexon EV is the best selling electric car in India.
Tata Motors had also introduced a Subscription Plan for the Nexon in August 2020. The company further brought down monthly subscription rates in September and December, thus making the Nexon more appealing to a new segment of customers.
The subscription plan is currently on offer in Bengaluru, Pune, Mumbai, Delhi-NCR and Hyderabad. The plans now begin from Rs.29,500 per month and offered only on the mid spec XZ+ variant.
Electric Car Sales 2020. MS = Market Share
Sales of Other Electric Cars
In terms of rivals, Nexon has no real rival in the price segment it is offered. In terms of sales, electric vehicles such as the Mahindra eVerito and Hyundai Kona electric are no match. It is only the MG ZS EV that offers some competition to the Nexon with sales at 1,243 units sold from Feb to Dec 2020.
The Kona EV has seen sales of around 200 units with buyers wary after hearing of issues of fire risk and breakdowns. Tata Nexon will soon meet with some challenges with the new Mahindra eKUV300 poised for launch later this year. The Mahindra eKUV300 will come in at around Rs 9 lakhs with a FAME II subsidy.
Sales of the Nexon EV were also boosted following orders received from EESL for 150 units of the Nexon EV and 100 units of the Hyundai Kona EV. EESL stated their preference for the XZ+ variant of the Tata Nexon at Rs.14.86 lakhs and the entry level Premium variant of the Kona EV priced at Rs.21.36 lakhs, ex-sh. Current market price of these two are Rs 15.25 lakhs and Rs 23.75 lakhs. Kona MY2020 is being offered with Rs 1.5 lakh discount.
A refreshed Tata Tigor EV is also doing the test rounds ahead of launch. The Tigor EV is expected to launch sometime in mid-2021 while later this year and the Tata Altroz EV is also set for launch with prices lower than that of the Nexon which could boost EV sales for the company.
Source: Electric - rushlane.com
