TaMo rides 3x EV bookings into festive season

Tata Motors Passenger Vehicles Ltd is experiencing a surge in electric vehicle (EV) bookings, with a three-fold increase in the past six months, according to a senior company official. Despite production capacity constraints, the company has gained market share every month in the last three months, widening its gap from the number two player, as reported by PTI.

The Chief Commercial Officer, Vivek Srivatsa, attributes this growth to increasing consumer confidence in Tata Motors' electric products, which offer a wide range of EVs for various use cases. He predicts a record-breaking quarter for the industry during September-December, as current momentum suggests. However, he acknowledges that the industry's growth rate may slow in the second half of the year due to base effects.

The GST 2.0 reforms, which continue to support EV affordability, have also contributed to the positive trends. Despite recent price increases, Srivatsa expects these to have minimal impact on festive-season demand, as consumer preferences for alternative-fuel vehicles and changing mobility habits among Indian consumers continue to drive demand.