Re: Tata Tiago EV, Tigor EV get up to Rs 1.10 lakh discount Tata's EV sales have stagnated for a long time despite multiple new launches like Tiago EV, Nexon EV max, and new-gen Nexon EVs.
The first Nexon EV that was launched in early 2020 at Rs 14 lakhs was a game-changer EV for the time. It had a decent range and was priced substantially lower than the competition (Kona and ZS EV). Especially with price increases for Kona and ZS, Nexon EV sales soared in 2021 and 2022. But Tata also started to increase the prices and the Max variant also was launched at higher prices. Tata has overestimated the number of people who are willing to pay Rs 15 to 20 lakhs for a <4m car. It's the same with Tiago EV. They priced Tiago at the double of petrol versions despite using smaller batteries and very low ranges. The low range and slow charging are deal breakers for the majority of people.
It's a shame that they have not addressed this slow-charging issue even in the facelifted Nexon EV. They also kept the same 30 KWh battery as the original Nexon 4 years ago. They should have repositioned the Nexon and Tiago EVs as they already have multiple new EVs (Punch, Currv, Harrier EVs, etc...) in the pipeline. Tiago 24 KWh variant should start at Rs 8 lakhs and the 19kWh should have been nixed. Punch EV at Rs 10 lakhs, Nexon 30 KWh at 12 lakhs, and Max at Rs 15 lakhs. There is a huge benefit for EV makers due to the 5% GST, PLI schemes.
Despite initial struggles with XUV400, I have a feeling that Mahindra will take a majority EV market share just like they did with the SUV market. Tata is so far lucky that the companies like MG, and BYD are not allowed to expand their businesses freely. Otherwise, they would have bulldozed the Indian EV market already. But I feel Mahindra would do that to a large extent over the next 2-3 years. |