Tata Nexon EV witnesses demand equivalent to the diesel variant

- Tata Nexon has registered its highest ever quarter sales of 1,715 units in Q1 of FY’22

- Nexon EV sales are equivalent to the Nexon diesel sales in states like Maharashtra and Gujarat 

Tata Motors has reportedly witnessed strong demand for the Nexon EV in the country. As per P Balaji, CFO, Tata Motors, the markets where the Tata Nexon EV is sold, its demand is at par with the diesel iteration of the sub-four metre SUV. Back in June, the Nexon EV registered its highest monthly sales of 650 units. Moreover, the Nexon EV witnessed its highest quarter sales of 1,715 units in the period between April-June 2021.     

The steep rise in fuel prices in recent times has encouraged this shift in demand. In Maharashtra and Gujarat, the company claims that the sales figures for the Nexon EV are equivalent to that of the diesel version. The demand for the Nexon EV is stronger in the current month due to the recently announced FAME 2 benefits and subsidies by the state governments.   

The Nexon EV currently contributes to about three per cent of the portfolio in Q1 of FY’22 as compared to 0.2 per cent share around two years ago. Going forward, the company expects Nexon EV to account for five per cent of total passenger sales. Backed by the success of the Nexon EV, the company’s annual report states that it will introduce as many as 10 electric vehicles in the country by 2025 and will also invest in charging infrastructure.

Source - MO