Nexon Facelift 2023: Tata Motors Launches New Version Of Popular Compact SUV Amid Stiff Competition
The new Nexon will be sold at an introductory ex-showroom price of Rs 8.09 lakh, while the electric price starts at Rs 14.74 lakh.
Tata Motors Ltd. launched the new versions of its highest selling SUV Nexon and Nexon EV, to stay ahead in the highly competitive compact SUV segment.
The new Nexon will be sold at an introductory ex-showroom price of Rs 8.09 lakh, while the electric counterpart's ex-showroom price starts at Rs 14.74 lakh.
In the compact SUV segment, the company has a market share of 30% with models such as Punch and Nexon, Shailesh Chandra, the managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility Ltd, said today.
The segment sees sales of nearly 90,000 units every month with 14 models from several companies, up from seven models at the time of Nexon's launch, he added.
First launched in 2017, the SUV competes with Maruti Suzuki's Brezza, Hyundai Venue, Kia Sonet and M&M's XUV300.
The company came up with the electric version of the model in 2020, which gave a fillip to the brand and pushed the sales higher.
Nexon has clocked more than 5 lakh unit sales since its launch, while the EV sales have surpassed 50,000 units, contributing nearly half to the overall electric car sales of the company.
In addition to Nexon EV, Tata Motors sells electric versions of Tigor and Tiago in the segment.
Tata Motors is currently leading the electric car market in India with a market share of over 80%.