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 Tiago
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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Maruti eVX to Tata Harrier EV: Electric cars to launch in India next year

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India will get a number of new electric cars in the next 12 months as the EV segment continues to grow at a rapid rate. Several carmakers have already confirmed launch of their new electric vehicles in 2024. Some of these models will help top carmakers enter the EV fray in the country which currently has less than seven per cent contribution to overall vehicle sales in India. Key names among the expected electric cars to hit Indian shores include the likes of Maruti Suzuki’s first EV – the eVX, Tata Harrier EV among others. Here is a quick look at list of brand new electric cars to launch in India next year.

Maruti eVX Tata Harrier EV
Maruti Suzuki is expected to launch its first electric vehicle in India with the introduction of the eVX in 2024. Tata Motors is also expected to launch at least three new EVs, including the electric avatar of its flagship Harrier SUV next year.

Maruti Suzuki eVX

2024 will be a landmark year for Maruti Suzuki, the largest carmaker in India, as it plans to put its first ever electric car eVX to production. The carmaker has confirmed that the eVX electric SUV, first showcased at the Auto Expo held in January this year, will be manufactured from Suzuki Motor’s Gujarat facility at Hansalpur starting next year. It is expected to be launched some time in 2024. The eVX electric SUV will come with a range of around 550 kms in a single charge. It will be equipped with a 60 kWh lithium-ion battery pack. When launched, it will take on the likes of MG ZS EV and Hyundai Kona among others.

Tata Harrier EV

Tata Motors has confirmed that its flagship Harrier SUV, which recently received a major facelift, will get its electric version next year. The Harrier EV made its debut at the Auto Expo earlier this year. Built on the Gen 2 EV architecture, the Harrier EV will come with V2L and V2V charging facilities. The Harrier EV has been spotted testing on roads ahead of its launch within the next few months. However, very little is known about what this electric SUV will offer in terms of range, performance and features.

Tata Punch EV

The second electric vehicle from Tata stable expected to make India debut next year is the Punch. The smallest SUV from the carmaker already has the ICE and CNG version on sale. When launched, it will become the fourth car in Tata’s lineup to offer ICE, CNG and EV version of the same model. The Punch EV is expected to come with the same Ziptron technology that is doing duty in other Tata EVs like Nexon. The size of the battery could be the ones used for Tigor EV or the Nexon EV. Tata Punch EV could offer range of more than 300 kms in a single charge in the long-range version.

Tata Curvv EV

The third electric car from Tata Motors expected to be launched in 2024 is the Curvv EV. Tata is likely to launch the EV version of the SUV after its ICE version makes its debut. The Curvv EV will be based on Tata Motor’s X1 platform which will be heavily reworked to become EV ready. According to reports, the expected range of the Curvv electric SUV will be between 400 kms and 500 kms in a single charge. It is not clear if Tata Motors will use the same battery the Nexon EV facelift uses.

Kia EV9

The Korean auto giant is expected to expand its EV lineup in India with the introduction of its three-row electric SUV EV9. Based on the Electric Global Modular Platform (E-GMP), the EV9 stands more than five metres in length. It promises to offer range of up to 541 kms in a single charge. It is expected to be offered in two variants. Globally, the EV9 is powered by a 150 kW electric motor that can help it sprint 0-100 kmph in 9.4 seconds. The RWD version of the EV will come with a more powerful 160 kW electric motor. The EV has an 800-volt electrical architecture that enables the EV to charge at ultra-fast speed. Kia claims the EV9 can run 239 kms with just 15 minutes of charging.

Mahindra XUV.e8

Mahindra and Mahindra will also expand its EV lineup for India with the launch of an electric SUV based on the XUV700. This will be Mahindra’s second electric offering after the XUV400. Mahindra had showcased five upcoming electric SUVs during an event held in United Kingdom in August last year. To be launched under the Born Electric brand, the XUV.e8 is expected to come with dual electric motor as well as all-wheel drive technology. Mahindra is likely to offer at least 60 kWh battery pack with the XUV.e8 EV besides adding features like level 2 ADAS, 5G connectivity among others.

First Published Date: 18 Dec 2023, 14:20 PM IST

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Tata Motors to set up 10,000 EV charging stations in India by 2025

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Tata Motors’ electric vehicle wing Tata Passenger Electric Mobility has tied up with as many as four EV charge point operators in India to bolster the EV charging infrastructure across the country. With the help of operators like Chargezone, Glida, Statiq and Zeon, Tata Motors plans to install around 10,000 new electric vehicle charging stations in the country in the next two years. The carmaker has signed a Memorandum of Understanding (MoU) with these charge point operators today (December 11).

By: HT Auto Desk
| Updated on: 11 Dec 2023, 18:05 PM

Tata Tiago EV
Tata Motors is currently the leading manufacturer in the electric passenger vehicle segment. It also has one of the largest EV charging network across India.

Tata Motors is currently the leading manufacturer in the electric passenger vehicle segment. The carmaker has already sold more than 1.15 lakh electric vehicles across India. Tata offers three electric cars in its portfolio which includes the likes of Nexon EV, Tigor EV as well as Tiago EV. The carmaker is expected to launch at least three more electric vehicles within the next one year. Being the leader of the EV segment, Tata Motors also has one of the largest EV charging network across India with the help of Tata Powers.

The MoU signed between Tata Motors and the four charge point operators will use telematics insight from the carmakers and identify locations to set up the new EV charging stations. This would mean Tata Motors will be able to take help from these operators to install EV chargers at places where its electric vehicles sell the most or is most frequented by Tata’s electric vehicle owners.

Chargezone, Statiq, Zeon and Glida, also formerly known as Fortum Charge Drive India, are some of the leading EV charger operators in India. They have a combined EV charging network of around 2,000 stations spread across various cities in the country. The MoU with Tata Motors will extend the number to 12,000 within the next 12-15 months, said the carmaker. Balaje Rajan, Chief Strategy Officer at Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said, “This collaboration will benefit from Tata Passenger Electric Mobility’s unparalleled EV usage insights, coupled with the CPOs’ innovative charging solutions and entrepreneurial spirit, and create 10,000+ additional charging points in the country by FY25.”

Also watch: 2023 Tata Nexo EV first drive review

Tata Motors and these four charge point operators will also work on a smart payment gateway for its customers to make it easy for them to recharge and pay. They are planning to roll out RFID cards which will be accessible at any of the charge points operated by these companies. Customers will also be able to avail benefits of loyalty programs as well as access dedicated customer care number.

Currently. Tata Motors has nearly 5,000 public EV charging stations across the country in collaboration with Tata Power. Tata Motors and Tata Power have also launched EZ Charge Card, a touch-based RFID card. Tata Motors has also tied up with Bharat Petroleum to set up 7,000 chargers over the next year.

First Published Date: 11 Dec 2023, 18:05 PM IST

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Tata Motors car sales slump 5% in September, EVs grow 57%

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Tata Motors on Sunday announced in a regulatory filing that the automaker registered a five per cent sales slump in September in the passenger vehicle segment. The homegrown automobile manufacturer claims to have sold a total of 45,317 cars last month, down five per cent from 47,864 units registered in the same month a year ago.

By: HT Auto Desk
| Updated on: 01 Oct 2023, 17:37 PM

Tata Nexon facelift
Tata Motors is expecting to see sales growth during the festive season thanks to the new product launches.

Domestic sales of Tata Motors’ passenger vehicle sales in September were down by six per cent at 44,809 units. In comparison, the auto manufacturer sold 47,654 units in the same month last year. Export numbers in the segment have jumped 142 per cent to 508 units last month, up from 210 units registered in September last year.

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

Total passenger vehicle sales in the second quarter of the current financial year too were down by three per cent to 138,939 units, as compared to 142,851 units sold between July and September 2023. Domestic sales of Tata passenger vehicles were down by 2.7 per cent to 137,950 units in the same period, as compared to 142,325 units recorded in the corresponding period of last fiscal.

While the overall passenger vehicle sales slumped marginally for the homegrown automobile manufacturer, sales of electric vehicles have recorded impressive growth. Tata Motors has registered a whopping 57 per cent growth in the electric vehicle segment with its models like the Nexon EV, Tigor EV and Tiago EV. The automaker claims to have sold 6,050 electric cars last month, up from 3,864 EVs sold in the same month a year ago. In the second quarter of the current financial year, Tata Motors sold 18,615 electric cars, up 55 per cent from 12,041 units sold in the same period a year ago.

Watch: Tata Nexon facelift first drive review: Can it set the benchmark higher?

Speaking about the sales performance, Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd., said that the PV sales remained strong in the second quarter of this financial year thanks to the new product launches. “Passenger vehicle sales remained strong in Q2 FY24 driven by new launches and pre-festive offtakes. Tata Motors posted quarterly sales of 138,939 cars and SUVs in Q2 FY24, 2.7 per cent below our highest-ever quarter, Q2 FY23. Our EV business continues its strong momentum and has posted growth of about 55 per cent year-on-year. In Q2 FY24, we extended our innovative twin-cylinder CNG offering to Tiago, Tigor and Punch, which have been received well by the market. This quarter also saw the launch of the new generation Nexon and Nexon.ev, which have received an overwhelming market response. We had proactively reduced supplies of the outgoing models this quarter to enable a smooth transition to the new generation models,” he said further adding that with the deliveries commencing of its new products, Tata Motors is expecting higher sales volumes in the festive season and beyond.

First Published Date: 01 Oct 2023, 17:37 PM IST

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