India’s passenger vehicle industry to see less than 5% growth in FY25, says Tata

India’s passenger vehicle industry to see less than 5% growth in FY25, says Tata

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By: HT Auto Desk
| Updated on: 25 Feb 2024, 15:57 PM

  • Tata Motors’ key official Shailesh Chandra has hinted at impending price hikes for passenger vehicles in the coming months.
Tata Motors’ key official Shailesh Chandra has hinted at impending price hikes for passenger vehicles in the coming months.

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.

Passenger vehicles to see sluggish growth

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.

Watch: 2023 Tata Safari review: Family SUV with bachelor spirit?

Passenger vehicles likely to be pricier

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.

Watch: 2023 Tata Nexon EV facelift first drive review: Best-seller gets even better?

Electric vehicles to continue growing

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.

Watch: Tata Altroz iCNG: First Drive Review

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


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Tata Motors inaugurates EV-only showroom in Gurugram. Check details

Tata Motors inaugurates EV-only showroom in Gurugram. Check details

by with No Comment Electric vehicles cars

Tata Motors has inaugurated its first EV-only dealership in Gurugram. The dealership will open for the general public on 7th January and it is located on Sohna Road. The manufacturer says that they will expand the network to 2-3 more cities where they sell the most number of electric vehicles.

By: Paarth Khatri
| Updated on: 21 Dec 2023, 16:19 PM

The new EV-only dealership is located on Sohna Road, Gurugram and will be operational from 7th January.

Customers would be able to use fast chargers that will be available at these new dealerships. Tata has also announced that once the EV dealerships are up and running, they will stop selling electric vehicles from regular showrooms. Apart from this, all Tata EV showrooms will have workshops that will be exclusive to Tata electric vehicles, this information was already confirmed to us back in October last year when the manufacturer launched the Tiago EV.

Tata Motors currently sells the Nexon. ev, Tiago.ev and Tigor. ev in the Indian market. Nexon.ev and Tiago.ev contribute around 75 per cent of sales among all Tata electric vehicle sales. Speaking of Tiago.ev, 25 per cent of buyers of the electric hatchback are women. Tata aims to complete 2023 with about 70,000 EV sales.

Also Read : Nexon to XUV700: Top 5 Indian cars that got shot in the arm with GNCAP rating

Commenting at the inauguration of the new showrooms, Shailesh Chandra, MD, Tata Motors Passenger Vehicles Ltd., and Tata Passenger Electric Mobility, said, “With insights gathered from over 1 Lakh Tata EV customers, we understand that the EV consumers seek a different kind of customer experience. They are sensitive to how the planet is evolving, very conscious about the cost of driving, and desire cutting-edge technology. This is in line with the new brand identity’s core values – sustainability, community, and technology. The new flagship showrooms are the first physical manifestations of this brand philosophy and we have mapped the customer journey accordingly. We want to empower our customers so our plans include the creation of a harmonious community space to facilitate customer gatherings/services, sustainability-focused workshops, and events for customers. These showrooms are not just about retailing EVs but they become TATA.ev community centres in Gurugram.

First Published Date: 21 Dec 2023, 15:22 PM IST


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Honda Amaze available with benefits up to ₹31,000 in August

Honda Amaze available with benefits up to ₹31,000 in August

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The Amaze is Honda’s compact sedan that goes against the Maruti Suzuki Dzire, Tata Tigor and Hyundai Aura. Honda has priced the Amaze between ₹7.05 lakh and ₹9.66 lakh. Both prices are ex-showroom. The Amaze is available only in three variants – E, S, and VX and five monotone colours – Lunar Silver Metallic, Platinum White Pearl, Meteoroid Grey Metallic, Radiant Red Metallic and Golden Brown Metallic.

Honda sells Amaze only with a 1.2-litre, naturally aspirated, four-cylinder engine. It produces 89 bhp of max power and a peak torque output of 110 Nm. It comes mated to either a 5-speed manual gearbox or a CVT automatic transmission.

Honda is currently preparing to launch its mid-size SUV in the Indian market. It is called the Elevate and it will be going against the Hyundai Creta, Maruti Suzuki Grand Vitara, Kia Seltos, MG Astor, Toyota Urban Cruiser Hyryder, Citroen C3 Aircross, Skoda Kushaq and Volkswagen Taigun.

Watch: Honda Elevate SUV: First drive review

The Elevate will be offered only with a 1.5-litre, four-cylinder, naturally aspirated engine. It puts out 119 bhp of max power and 145 Nm of peak torque. This is the same engine that is doing duty on the Honda City as well. The Elevate will be offered with a 6-speed manual gearbox or a CVT automatic transmission. Honda will not sell Elevate with a diesel engine or a hybrid powertrain. Instead, Honda has confirmed that they will be launching the electric version of the Elevate by 2026.

First Published Date: 25 Aug 2023, 14:50 PM IST


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Tata Punch iCNG launched at ₹7.10 lakh, comes with a sunroof

Tata Punch iCNG launched at ₹7.10 lakh, comes with a sunroof

by with No Comment Electric vehicles cars

Powering the Punch iCNG is a 1.2-litre, three-cylinder engine that produces 84.82 bhp of max power and a peak torque output of 113 Nm while running on petrol. On CNG, the power output falls to 75.94 bhp whereas the torque output decreases to 97 Nm. The engine comes mated to a 5-speed manual gearbox or a 5-speed AMT. However, the CNG powertrain only gets a 5-speed AMT.

One of the biggest distinguishing features of Tata’s iCNG range is the use of dual-cylinder tech. Instead of using one large CNG cylinder, Tata Motors is using two small 30-litre cylinders which means the total capacity is rated for 60 litres. The cylinders are placed in the floor well of the boot. This means that there is still a usable boot space available for the occupants to store their luggage and other stuff.

Being a Tata, the CNG vehicles also come with several safety features. It gets a leak detection feature and Tata is using high-quality stainless steel and rust and corrosion-resistant materials. There is also thermal incident protection in which the CNG supply to the engine is cut off automatically and the gas in the cylinder is released into the atmosphere automatically. There is also a microswitch that makes sure that the car does not start if the fuel lid is open.

Cosmetically, the brand has not made any changes apart from the new iCNG badging. The cabin gets a CNG button that is used to switch the fuel supply from CNG to petrol or vice versa. The instrument cluster is updated to show a CNG gauge.

The Tata Punch CNG will come with twin-cylinder technology that brings two 30-litre tanks under the boot space, for a more practical storage solution

Commenting on the launch, Mr. Vinay Pant, Head-Marketing, Tata Motors Passenger Vehicles Ltd., said: “Building further on our success with the Altroz iCNG, and to make the CNG segment even more hotly contested, we are excited to introduce the twin cylinder technology in not just one but three products today – the Tiago, Tigor and the much awaited and loved sub compact SUV, the Tata Punch. Since its debut at the Auto Expo 2023, the Punch iCNG has been one of the most awaited products in this segment. With its uncompromised boot space and high end feature upgrades, the Punch iCNG demonstrates the go anywhere attitude of an SUV, which is engineered to meet the constantly evolving requirements of customers, who are tech savvy and demand best in class features along with an environment friendly and economical product. I am confident that these introductions put together will make our CNG line up appealing, holistic and stronger than ever.”

First Published Date: 04 Aug 2023, 12:51 PM IST


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