The game-changing Tata Nexon compact SUV has become the first model in Tata Motors’ seven-model ‘New Forever’ range of passenger vehicles to sell over 600,000 units in the domestic market. Launched on September 21, 2017, the Nexon has, till end-December 2023, clocked cumulative sales of 611,901 units in the domestic market. The 600,000-unit sales milestone has come up in 76 months or a little over six years after launch.
Proof of the surging demand for the Tata Nexon is the fact that the compact SUV became India’s best-selling utility vehicle in FY2022 selling 124,130 units. The game-changing product has maintained that No. 1 status in FY2023 with sales of 172,138 units. For calendar year 2023, with estimated sales of 170,312 units, it ceded the crown to the Maruti Brezza (170,588 units) by just 276 units. However, in the first 10 months of the ongoing FY2024, the Nexon (126,062 units) is ahead of the Brezza by 1,847 units. With two months to go for the fiscal year to end, the exciting battle for the title of No. 1 SUV in India continues.
Demand for the Nexon, which has seen consistent updates on the styling, tech and interior fronts, has accelerated in the past three years.
The Nexon’s sales split for the past six-odd fiscals reveals that demand for the game-changing SUV accelerated rapidly, hitting the six-figure mark for the first time in FY2022 (124,130 units) with a year-on-year growth of 95% and bettering that in FY2023 with 172,138 units, up 39 percent. In the current fiscal, the Nexon has averaged monthly sales of 12,606 units.
The pace of the Nexon’s sales is remarkable. Considering that cumulative numbers drove past the 200,000-unit sales milestone in India in June 2021, a little less than four years or 46 months to be precise, the next 200,000 units were sold in just 15 months. The sales run from 400,000 units to 500,000 units took a scant seven months, while the last 100,000 units to 600,000 units have come up in eight months.
NEXON CONTRIBUTES 29% TO TATA MOTORS’ 2.14 MILLION PV SALES
With the introduction of the Nexon in September 2017, Tata Motors’ PV fortunes began to look up. From 172,504 units in FY2017 (before the Nexon was introduced) to 210,200 units in FY2018, and 231,512 units in FY2019, Tata Motors saw demand come its way in spades. The Covid-impacted FY2020 saw sales decline for all OEMs but Tata bounced back in FY2022 with 373,138 units and 66% YoY growth and went on to better it with record sales of 544,391 units in FY2023.
With sales of 611,901 units since launch, the Nexon, which is Tata Motors’ best-selling passenger vehicle, has helped accelerate the company’s growth
In December 2018, the Nexon became the first made-in-India car to achieve Global NCAP’s five-star crash test rating (under the previous GNCAP protocol). With growing consumer awareness about vehicle safety in India, the Nexon benefitted substantially from its top crash test rating.
The Nexon’s strong market performance is amply reflected in its growing contribution to the carmaker’s overall PV sales. From 13% in FY2018, the Nexon’s share rose to 24% in FY2019, crossed the 30% mark in FY2020, hit 33% in FY2022, clocked 32% in FY2023 and is currently 30% in the April-December 2023 period.
This is also amply reflected in Tata Motors’ much-improved passenger vehicle market share – from the 6.39% in FY2018, the company more than doubled its PV market share to 14% in FY2023 as well as in the first 10 months of FY2024. Along with the Nexon, Tata Motors has also benefited from the contributions from the Punch, Altroz and the Tiago.
This performance has seen the company move up the leader-board to take third position behind market leader Maruti Suzuki and Hyundai Motor India. In the April-December 2023 period, it is 30,054 units behind Hyundai.
Nexon EV, launched on January 28, 2020 and estimated to have sold over 60,000 units, has led the growth roadmap for the electric PV market in India and also helped cement Tata Motors’ leadership in this segment.
BENEFITING FROM A MULTI-FUEL STRATEGY
The Nexon has benefited from Tata Motors’ multi-fuel strategy in spades – there are all of 43 variants on offer across petrol (20 variants), diesel (14 variants) and electric (nine variants), which means there is a Nexon for every budget. And it is set to showcase the Nexon CNG concept at the Bharat Mobility Show in New Delhi on February 1. When the production-ready Nexon CNG model rolls out, it will add even more muscle to the Nexon model portfolio.
On September 14, 2023, Tata Motors launched the newest avatar of its best-selling passenger vehicle. The facelifted Nexon is priced at Rs 810,000 (ex-showroom, India) for the base Smart MT variant, going up to Rs 13 lakh for the 1.5-litre diesel AMT variant. This is the second facelift for the Nexon, as the first facelift was launched in 2020.
In its commentary on the SUV’s latest update, Autocar India states, “The Nexon always delivered on that tough SUV feel, and 2023’s comprehensive styling, tech and interior updates make it more likeable. Top-spec models are big on features and the vast variant list means there’s a Nexon for every budget. A roomy cabin only furthers its case. However, it still doesn’t have the finesse of some rivals, and the petrol engine remains unexciting.”
As regards the new Nexon EV, the commentary adds, “The redone interior, new tech and updated powertrain make the electric SUV feel like it’s taken a half-generation leap. It is the benchmark amongst affordable EVs.”
With customer demand for compact SUVs showing no signs of slowing down, expect the Nexon to further making inroads into India’s ultra-competitive UV market. What has also helped Tata Motors with its fast-paced production is its better supply chain management, essentially being able to deliver cars faster and keep the strong con-Nexon with the SUV customer. Now, with additional manufacturing capacity at the new plant in Sanand, Gujarat, Tata Motors is even better placed to capitalise on demand for the Nexon.
ALSO READ:
Tata Motors to hike prices of cars, SUVs and EVs from February 1
Tata Motors records best-ever annual sales in CY2023: 550,838 PVs, EV share rises to 12.55%
Tata Motors EV sales hit record levels in CY2023: 69,173 units, up 59%