Tata Motors Ltd. has slashed the price of its passenger electric vehicles by up to Rs 3 lakh to boost festive season sales. The price reduction applies exclusively to the company's electric models, including the Punch, Nexon, and Tiago, Informist reported on Tuesday. This limited-time offer is valid until Oct. 31, 2024.
Tata Punch, currently India's best-selling car, sees a price cut of up to Rs 1.2 lakh. While, the Nexon EV received the steepest reduction, with prices dropping by up to Rs 3 lakh. The Tiago EV also benefits from a price cut of up to Rs 40,000.
On Sept. 9, the carmaker announced a price cut of up to Rs 2 lakh for its passenger vehicles. The offer is applicable only on the company’s internal combustion engine cars, such as Tiago, Tigor, Altroz, Nexon, Harrier, and Safari, and is valid until Oct. 31, 2024.
Tata Motors has announced discounts amid sales that have lagged for at least two straight months due to rising inventory.
In August, the Nexon maker shipped 44,142 cars to dealerships, as against 45,513 units a year ago—a decline of 3% year-on-year. Retail car sales—measured as vehicle registrations on the government's VAHAN portal—dipped 2.67% year-on-year to 38,788 units.
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