Tata Motors depended on the introduction of new powertrains, such as CNG and electric, as well as special edition vehicles, to drive sales, in contrast to competitors who introduced new models in the previous two years.
The final brand to be added to the PV portfolio was Punch, a small SUV that debuted in August 2021. Only at the tail end of the year, with the facelifts of the Nexon, Nexon. ev, Harrier, and Safari did mid-cycle model refreshes begin. According to Chandra, the newly released Nexon and Nexon. ev have collectively received over 100,000 reservations; 85,000 of those are for the fossil fuel version, and the remaining units are for the electrified one.
The third-largest passenger car manufacturer in India, Tata Motors, anticipates that the upcoming year will set a record for sales volume for the company’s passenger vehicle division, thanks to the introduction of new models with both conventional and electrical drivetrains.
It intends to introduce the Curvv SUV in addition to the Harrier and Punch electric models. To strengthen its position in the third-largest market in the globe, the Tata Group automotive flagship will launch the Curvv, the company’s first new brand in three years.
Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, told ET that “we expect next year to be much more promising as we completely revamp our portfolio with the addition of two to three new models which will include facelifts and a new nameplate in the ICE (internal combustion engine) and EV segments.” Regarding whether the PV business can set a record this year with frequent product actions, he stated, “That’s the aspiration.” Refusing to provide any numerical estimates, he stated that the company’s growth rate would surpass that of the industry.
According to those with knowledge of the company’s internal goals, Tata Motors wants to increase sales by 10% by 2024. It projects 5% to 6% growth in sales in 2023 to 550,000 passenger vehicles, which will be the highest for a year so far.
In contrast, competitors that have launched new models in the past two years that drive
Tata Motors’ sales were reliant on the release of innovative powertrains, such as electric and CNG, as well as limited edition vehicles. The Punch compact SUV,
August 2021 saw the launch of the final brand to be included in PV’s portfolio. With the facelifts of the Nexon, Nexon. ev, Harrier, and Safari at the tail end of the year, even mid-cycle model revisions began. According to Chandra, the recently launched Nexon and Nexon. ev has had over 100,000 reservations between them; 85,000 of those are for the fossil fuel version, and the remaining units are for the electric one. Speaking on the EV market, he claimed that it was being driven by the introduction of new, more reasonably priced models, better infrastructure for charging, and ongoing government assistance.
By 2026, Tata Motors expects to have ten EV cars on the market. “With the mix becoming richer, we anticipate an improvement in EV business revenue. Given the recent rise in battery prices, even profitability will down,” Chandra said.