In a strategic move to tackle escalating production costs and inflationary pressures, Tata Motors, one of India’s leading automobile manufacturers, has implemented a price hike across its entire car lineup. This adjustment includes some of their most popular models, such as the Nexon and Punch, signaling changes in the pricing dynamics for potential buyers.
Tata Nexon Price Surge:
The Tata Nexon, a flagship SUV for the brand, has witnessed a substantial price increase of Rs 45,000. Consequently, the revised price range for the Nexon now spans from Rs 8.15 lakh to Rs 15.6 lakh (ex-showroom). These adjustments, effective from February 2024, represent a hike of 0.62% to 3.7%, impacting all variants of the Nexon. Despite the increase, all variants remain available for purchase.
Tata Punch Faces Adjustments:
Similarly, the Tata Punch, known for its popularity among customers, has experienced a price hike of up to Rs 17,000. The new ex-showroom price range for the Punch falls between Rs 6.13 lakh and Rs 10.20 lakh. Notably, some variants of the Punch have been discontinued as part of Tata Motors’ portfolio restructuring.
Tata Nexon’s Remarkable Journey:
The Nexon, having been a stalwart in the Indian automotive scene for almost seven years, boasts a production milestone of 6 lakh units. Launched in September 2017, it reached the 1 lakh units mark in mid-2019. In 2023 alone, the Nexon achieved a sales figure of 1,70,311 units, securing its position as the fifth best-selling car in the country and the second best-selling SUV.
Tata Punch’s Continued Popularity:
The Tata Punch, with strong sales figures and a loyal customer base, has emerged as a preferred choice among consumers. Tata Motors’ decision to increase prices aligns with the industry trend, helping the company maintain profitability in the face of economic challenges.
