2024 bestseller! Blockbuster Punch sales, Tata confident of Punch EV following trend – Car News

Tata Motors believes that the value-hunting Indian customers are in wait and watch mode and EV sales will gather pace once the infrastructure development gains momentum.

The Tata Punch has emerged as the best seller from the Tata camp in 2024 with record 2 lakh sales in just 1 year. The Punch is also within striking distance of the 5 lakh sales milestone since launch, after the phenomenal run that helped it become the fastest to cross 4 lakh sales milestone among SUVs in August 2024, just 34 months after launch in October 2021. The company now plans an encore with Punch EV too.

More than 20,000 Punch EVs have been sold so far and Vivek Srivatsa, Chief Commercial Officer, TPEM is confident that it could become the most seen EV on Indian roads. With EV sales tapering off globally, the question is what’s driving this optimism?

Speaking to Express Drives, Tata Passenger Electric Mobility’s Srivatsa highlighted that affordability and the feature-push on the Punch EV “showcases the potential of EV to the entry customer.” He elaborated that this is the “first time that so much tech was being made available in a car which is around Rs 10 lakh. It could well become the reference EV, the most seen EV on Indian roads. This is because it delivers a great balance. It can take on city roads, narrow city roads, bad roads, village roads, even go a little bit off roading with its form factor. Plus it gives all the technology, fast charging range. Over a period of time, it’ll be as successful in the EV world as Punch ICE has been.”

Realme GT 7 Pro review: Great plot, predictable ending

Media’s moment of reckoning in 2025 post-consolidation

Paradigm shift in Indian competition law

Carraro India says India a long-term bet, see big opportunity in current market condition

Scope of EVs cheaper than Punch limited

The pricing, Srivatsa explained, is a key deciding factor in a cost-conscious market like India. But can EV four-wheeler prices come down further as the market matures and options increase? Srivatsa doesn’t think there is any further room. He pointed out the evolving market dynamics, “Not only are prices coming down, but also, you know, technology also has been continuously evolving. So the wait and watch is what is impacting. But, however, I think prices have hit a, I would say, a rock bottom. I don’t see prices going down anymore.”

Have EV sales hit a speed breaker?

One cannot deny that EV sales have seen some tapering off in 2024. However, Srivatsa rationalised that EVs are one of the fastest growing categories globally and even the lower rate of growth equals significant EV addition, “in China, EV penetration has gone up by 1%. That is they were 27.4% EV penetration. Now they went to one quarter, it moved to 28.4. And 1% of a huge industry, you can imagine how many more EVs were added. So when you say downturn, it is not a slowdown or a, it’s more like a tapering off of the speed of growth.”

According to him, “EVs continue to grow. It might have a little bit of drop as it is a new tech and customers still have a wait and watch approach. 40,000 more customers have come and inquired about EVs this year than last year. So that is the kind of growth and interest we are seeing. It’s only a matter of time before it precipitates into actual sale. The Indian consumer is always careful and difficult to please, but, we can clearly see that they are just waiting. It is about when they go for an EV, not about if they’ll go for an EV.”

Discover the latest in the auto world with new cars and new bikes … Read More , explore upcoming cars in India, and find your perfect match with cars under 5 lakh, 10 lakh or 15 lakh. Stay updated with the latest auto news and the rise of electric vehicles.

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}