Tata Punch EV, Tiago EV become more convenient

Latest cash discounts and corporate discounts on offer, in addition to the September price cut on Tata EVs announced last month

With a wide range of options in the entry-level electric vehicle segment, Tata Motors has captured nearly 2/3 of the market share. In a bid to boost sales during the festive season, prices of some models of Nexon EV, Punch EV and Tigor EV were recently reduced by up to Rs 3 lakh. Now, Tata has announced more offers for potential buyers.

Tata Punch EV – Save up to Rs 26,000

For the 2023 and 2024 models of the Punch EV, Tata Motors is offering a cash discount of Rs 20,000. Additionally, eligible customers can enjoy corporate discounts of up to Rs 6,000. Cash discounts are provided in the form of green bonuses.

In early September, Tata Motors announced festive car festival offers on select electric models. Punch EV is also part of this offer and the price of some models can be reduced by up to Rs 1.20 lakh. The Punch EV now starts at Rs 9.99 lakh as compared to the previous price of Rs 10.99 lakh. The price of the top-end variant has been reduced from Rs 14.99 lakh to Rs 13.79 lakh.

Tata Tiago EV – Save up to Rs 56,000

Customers planning to buy the Tiago EV can save up to Rs 56,000. If they opt for the mid-spec XT model with a 24 kWh battery pack, the range is up to 275 kilometers. This Tiago EV model is available with cash discount of Rs 50,000 and corporate discount of up to Rs 6,000. People buying the entry-level XE or XT (smaller 19.2 kWh battery pack) variants of the Tiago EV can avail a cash discount of Rs 10,000. Models equipped with the smaller battery pack have a range of 221 kilometers.

Last month, the top variant of the Tiago EV saw a price cut of up to Rs 40,000. It is currently priced at Rs 10.99 lakh as compared to Rs 11.39 lakh previously. The base variant of Tiago EV is priced at Rs 7.99 lakh. With the latest cash discounts and corporate discounts, the Tiago EV becomes even more accessible.

Dealing with headwinds

While OEMs announce festive offers every year, the recent price cuts, cash discounts and corporate discounts on Tata EVs could also be a strategy to overcome negative market sentiments. At a time when the EV segment is expected to grow strongly, month-on-month data on EV sales showed an overall decline of -7.32% in September 2024.

Even MG Motor, the second-best-selling electric car brand, posted negative month-on-month growth this month. In the mainstream EV segment, Mahindra and Citroën have posted strong growth. Still, actual sales represent only a small fraction compared to internal combustion engine car sales.

Talking about Tata Motors, the company is also considering other measures to boost sales. For example, a BaaS (Battery as a Service) option could be introduced for all Tata electric vehicles. With BaaS, customers will be able to use these electric vehicles at lower prices. The recently launched MG Windsor EV has a single-day order volume of 15,176 units. This demonstrates the huge potential of BaaS initiatives.