Tata Nexon’s Impact on Tata Motors’ Business Volume: A Closer Look
Tata Nexon has emerged as a game-changer for Tata Motors, contributing significantly to the company’s business volume. Since its launch in September 2017, the subcompact car has been hitting milestones regularly, and the latest one is a big one. Today’s (April 11, 2023) production milestone announcement of 5,00,000 Tata Nexon units marks a new level of success for the company.
The journey to reach this milestone has been one of growth. Production of 25,000 units was announced in February 2018. A period of 6 months. Tata Nexon took about 12/13 months to reach the first 50,000 units milestone in September 2017.
How Tata Nexon’s Milestones Reflect the Evolving Indian Automotive Industry
However, it took an additional 12 months to achieve the next 50,000 units milestone. This period of slow growth can be attributed to several factors such as increasing competition in the subcompact segment. At the time the company’s brand perception was slowly changing. And most importantly it was a period that marked evolving preferences of target customers. Slowly and steadily, buyers were taking interest in the segment.
Keeping pace with market markers, Tata Motors continued to innovate and improve/grow its product range. And in November 2020, the company achieved a production milestone of 150,000 Tata Nexon units. Again a fairly long period of over a year (about 15 months) to achieve the next 50k production units.
Tata Nexon Production Reaches 500,000 Units Milestone
What’s interesting is that the next 50,000 units were produced in just a little over six months due to an increase in demand. The 2 lakh unit milestone was announced in June 2021.
Today’s production milestone announcement of 5,00,000 Tata Nexon units is a testament to the company’s ability to adapt to changing market dynamics and customer preferences. The Tata Nexon has been a popular choice for customers. Consistent increase in monthly sales with each milestone reflects the growing demand for the subcompact UV in the Indian market.
From 25,000 to 5,00,000: A Look at Tata Nexon’s Production Milestones
As we delve deeper into the production milestones, we can see that monthly sales have improved with each milestone. The average monthly sales during the first 12 months were approximately 4,200 units, which increased to around 7,100 units during the 7-month period between the 150,000 and 200,000 units milestones. However, the most significant increase in average monthly sales occurred between the 200,000 and 500,000 units milestones, where the average monthly sales shot up to approximately 14k units.
Consistent growth in monthly sales with each milestone highlights the customer preference for Tata Nexon brand. This has helped it establish a strong position in the segment. To continue leading position, Tata Motors is getting ready to launch facelifted Nexon SUV later this year. Spy shots have already been leaked online, revealing many new features.
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