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Tata Motors Limited’s (TML) latest electric vehicle offering, Punch.ev has crossed 13,000 vehicle sales within five months of its launch. Punch electric vehicle makes up 41 per cent of the company’s electric vehicle sales (since the launch until May 2024).
The rural market accounts for 36 per cent of its EV sales, the company said. Nearly 77 per cent of Punch electric vehicle customers are from Tier 2 and Tier 3 cities, with Kerala, Maharashtra, Karnataka, Tamil Nadu, and Uttar Pradesh accounting for more than 50 per cent of the volume, while Bengaluru, Pune, Thiruvananthapuram, Thrissur, and Jaipur lead among the cities.
“The Punch.ev is equipped with advanced technologies to tackle rough roads and off-road obstacles. Its rugged suspension system, high ground clearance of 195mm, and robust low rolling resistance tyres provide excellent stability and traction. The vehicle is designed with features such as an anti-lock braking system with electronic brake distribution to ensure optimal grip on slippery surfaces. There is a huge potential for rural sales and EVs, given the trend of solar-powered houses where customers can charge their EVs at home with solar power. We are already witnessing this trend in parts of Gujarat, Kerala and some other markets. The Punch.ev has received a great response from Indian consumers, with over 12,000 sold since its launch in January 2024. Today’s customer demands a feature-loaded car with an SUV body style at an appropriate price point. Furthermore, the Punch.ev, in a short period, accounts for 13 per cent of the overall sales of the Punch brand,” said Vivek Srivatsa, Chief Commercial Officer, Tata Passenger Electric Mobility Ltd.
The electric Punch is the company’s first vehicle featuring its acti.ev (advanced connected tech-intelligent electric vehicle) architecture, which allows the introduction of software-oriented features, and maximised space and battery capacity. The Punch provides a range of 421 km on a single charge.
“With the Punch.ev, we have seen the customer base is young, learned, and affluent. Nearly 21 per cent of our buyers are women, which is higher compared to the rest of the Tata EV portfolio. Many of our customers are private salaried employees and business owners, and 20 per cent of total owners are first-time buyers,” he said.
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Sub-compact SUV
Automakers are launching offerings in the sub-compact SUV segment following greater demand from Indian consumers.
“The compact segment has shown remarkable growth over the years in its share of the overall four-wheeler industry, increasing from 4 per cent to 7 per cent in FY24. Similarly, its share in the SUV segment has also increased from 8 per cent to 14 per cent, averaging 12 per cent for the year. This makes it one of the most competitive and contested segments in the market. Our focus is evident from our consistent investment in various innovations for the Punch, helping the product achieve multiple milestones,” added Srivatsa.
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