- 10 Sep 2024
- ICICI Securities
TATA MOTORS ANNOUNCES ‘FESTIVAL OF CARS’ BY SLASHING PRICES OF VARIOUS ENTRY LEVEL VARIANTS
News: In a press release, Tata Motors has announced significant price reductions on several of its models, including the Nexon and Harrier, with discounts reaching up to ₹2.05 lakh as part of its festive season promotion. The revised pricing makes the Tata Nexon available starting at ₹7.99 lakh, with potential savings of up to ₹80,000, while the Tata Harrier is priced at ₹14.99 lakh, can benefit from discounts of up to ₹1.6 lakh. These festive offers are available for a limited period till 31st October 2024 on all Cars and SUVs powered by petrol, diesel and CNG.
Views: In the month of August 2024, Tata motors saw a wholesale sales volume decline of 3.2% YoY at 44,486 units. The offer aims to rejuvenate sales of the passenger cars like Altroz and Tiago and also push sales for SUVs like Harrier and Safari. This shall clear the channel inventory at its dealer’s end and result in greater wholesales going forward with impact on profitability in the interim period. We expect similar attractive discount to be announced by competition as well.
Impact: Neutral