Know about car insurance
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Tata's popular SUV Nexon sold 14,759 units in October. However, this figure represents a decrease of approximately 13% compared to last year. Petrol, diesel, CNG and electric variants of Nexon are available in the market, making it a versatile option among the customers.
Despite the rapidly rising demand for personal mobility and SUV-mania across the country, India’s passenger vehicle segment is likely to see less than five per cent growth in the next financial year, forecasted Tata Motors. Tata Motors Passenger Vehicles Managing Director Shailesh Chandra stated that India’s domestic passenger vehicle industry is likely to see moderate to less growth in the next fiscal starting in April 2024. However, the Tata Motors official believes electric vehicle sales in the country will grow despite the slow pace of EV charging infrastructure development.
Chandra said that in FY23, the industry witnessed 25 per cent growth in the passenger vehicle segment, which is expected to become moderate in this financial year to about eight per cent. The Tata Motors official said that the industry is currently witnessing a high base effect and in the next financial year, there will be be slightly challenging situation for the segment. This challenging situation would result in the industry recording less than a five per cent growth rate in the next financial year, claimed Chandra during an analyst call.
In the last few months, automakers in India have announced price hikes for their respective passenger vehicle models citing increasing production costs due to factors such as surging raw material costs, inflation etc. Chandra hinted that there would be more such price hikes in the next financial year, which would pose challenges to the growth of passenger vehicles.
Citing various challenges for the growth of passenger vehicles in India, Chandra noted that while commodity prices have been stable in the past quarter or so, there is a risk that prices may go up going forward. He hinted that costs of crucial raw materials are going up, which may impact the prices of passenger vehicles negatively in the coming months.
Tata Motors is spearheading the democratisation of electric vehicles in India’s passenger vehicles segment. The homegrown OEM is leading the Indian electric car segment with more than 80 per cent market share. In the last few years, the segment has witnessed rapid growth thanks to various factors such as rising costs of petrol and diesel, narrowing price gap between electric and fossil fuel vehicles, availability of various government subsidies and incentives for EVs, tightening emission norms, growing awareness about environmental pollution and vehicular emissions’ impact on that, the launch of new electric cars etc. Tata Motors believes this growth momentum will continue in the next financial year as well.
Chandra said that in 2023, while the overall passenger vehicle industry grew eight per cent on a year-on-year basis compared to 2022, electric vehicle sales surged by 95-100 per cent YoY compared to the previous year. “I think this trend is likely to continue. So companies with stronger portfolios in CNG and EVs will grow,” Chandra said.
Interestingly, this growth projection comes despite the sluggish pace of growth for the electric vehicle charging infrastructure, which is considered a key factor for the growth of electric vehicle sales. “As far as EVs are concerned, I think the biggest challenge here is the pace at which the charging infra is growing. It is lagging behind the pace at which the EV adoption is happening,” Chandra noted further adding, “Given that the charging infra is crucial to the growth and expansion of EV market, we have gone for an open collaboration approach with all charge point operators as well as the oil marketing companies who are focusing on expansion of charging infra.”
First Published Date: 25 Feb 2024, 15:57 PM IST
If you’re wondering whether you should buy the Tata Altroz turbo petrol or diesel then this article will help you come to a conclusion. Here, we’ll take the latest ex-showroom prices of the Altroz and look at the price difference. Based on the current turbo petrol and diesel prices, we’ll calculate the kilometres you need to drive the car to recover the higher upfront cost. This should help you decide which engine option of the Altroz will work best for you and save you money in the long run. Let’s start with the difference in their ex-showroom prices.
Let’s look at the latest ex-showroom prices of the Tata Altroz turbo petrol and diesel to see what extra cost you’re paying for the Altroz diesel over the Altroz turbo petrol.
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For the Tata Altroz diesel manual, you’re paying between Rs. 73,910 and Rs. 75,000 more than the turbo petrol.
Now, let’s compare the per kilometre fuel cost you’ll incur with both the engine options. For this, we’ll use the latest petrol and diesel prices in Delhi and the official mileage figures as a baseline.
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At the current fuel prices, the Tata Altroz turbo petrol manual will cost you Rs. 1.44 more than the Tata Altroz diesel manual for every kilometre you drive.
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Depending on the variant, you’ll have to cover 51,414 to 52,172 km with the Tata Altroz diesel manual to recover the extra price you pay upfront over the Altroz turbo petrol.
Compared to the Altroz turbo petrol, the turbo diesel models cost from Rs. 74,000 to Rs. 75,000 more. However, with a very reasonable km-to-breakeven figure of around 52,000km, you can recover the higher upfront cost in a year or two. The Altroz turbo diesel also offers marginally better fuel efficiency than the Altroz turbo petrol. Hence, if you need a diesel hatchback, the Altroz turbo diesel makes for an ideal choice.
You can use our Fuel Cost Calculator to see how any petrol, diesel or CNG car will cost to run based on the latest fuel price in your city.
If you’re wondering whether you should buy the Tata Altroz petrol or diesel then this article will help you come to a conclusion. Here, we’ll take the latest ex-showroom prices of the Altroz and look at the price difference. Based on the current petrol and diesel prices, we’ll calculate the kilometres you need to drive the car to recover the higher upfront cost. This should help you decide which engine option of the Altroz will work best for you and save you money in the long run. Let’s start with the difference in their ex-showroom prices.
Let’s look at the latest ex-showroom prices of the Tata Altroz petrol and diesel to see what extra cost you’re paying for the Altroz diesel over the Altroz petrol.
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For the Tata Altroz diesel manual, you’re paying between Rs. 94,910 and Rs. 1.35 lakh more than the petrol.
Now, let’s compare the per kilometre fuel cost you’ll incur with both the engine options. For this, we’ll use the latest petrol and diesel prices in Delhi and the official mileage figures as a baseline.
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At the current fuel prices, the Tata Altroz petrol manual will cost you Rs. 1.21 more than the Tata Altroz diesel manual for every kilometre you drive.
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Depending on the variant, you’ll have to cover 78,246 to 1.11 lakh km with the Tata Altroz diesel manual to recover the extra price you pay upfront over the Altroz petrol.
Compared to the Altroz normal petrol, the turbo diesel models cost Rs. 95,000 to Rs. 1.35 lakh more. You can recover this higher amount in about 78,000 km to 1.11 lakh km, depending on the variant you buy. So, you should buy the Altroz diesel over the Altroz 1.2L normal petrol model only if you can drive the car for at least 1 lakh kilometres during your period of ownership.
You can use our Fuel Cost Calculator to see how any petrol, diesel or CNG car will cost to run based on the latest fuel price in your city.