Tata Motors continues to dominate the EV segment despite falling sales

Sales of electric vehicles (EV) of Tata Motors, one of the country’s largest automobile companies, have declined in January after a long period. The company’s EV sales have decreased by about 17 percent in the last month. Despite this, Tata Motors has retained the number one position with a market share of over 70 percent.

According to the Federation of Automobile Dealers Association, 3,346 electric cars were sold in January. In December, this figure was 3,739 units. Sales of electric four-wheelers as well as electric three-wheelers have declined, while the two-wheeler segment has remained almost flat. Tata Motors reported a decline of nearly 17 per cent in January sales at 2,426 units. The company’s Nexon EV is the best seller in this segment.

recently Tata Motors has reduced the price of Nexon EV. The company has cut the prices of all nine models of its Prime and Max variants by up to Rs 85,000. The starting price of Nexon EV Prime has come down to Rs 14.49 lakh and that of Nexon EV Max has come down to Rs 16.49 lakh. The Nexon EV Max and Prime have a range of 453 km and 312 km respectively on a single charge. The major reason for the price cut could be to compete with Mahindra & Mahindra’s electric compact SUV XUV400. It is based on the XUV300 compact SUV. It will be available in two variants EC and EL. Its price ranges between Rs 15.99 lakh to Rs 18.99 lakh (ex-showroom).

In the Economic Survey released last month, it was said that market By 2030, it can increase to one crore units annually. There is a possibility of getting about five crore direct and indirect jobs from this. The Economic Survey states that in December, India had overtaken Japan and Germany to become the third largest automobile market in the world in terms of sales. According to the Economic Survey, “The automotive industry can play an important role in moving towards green energy. The country’s EV market is expected to grow at a compound annual growth rate (CAGR) of about 49 percent between 2022 and 2030. May reach one crore units. Last year it was around one million units.”