December Discounts on EVs: Unmissable Deals to Drive Home Your Electric Dream!
If you’ve been contemplating the switch to an electric vehicle (EV), December 2024 is the perfect time to make your move! With the year winding down, several automakers in India are rolling out attractive discounts and incentives, making it easier than ever to embrace eco-friendly transportation. Here’s a comprehensive look at the fantastic deals available this month across various brands.
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Tata Motors: Leading the Charge with Discounts
Tata Motors, a frontrunner in the Indian EV market, is offering some impressive year-end deals that you won’t want to miss:
- Tiago EV and Tigor EV (Model Year 2024): Enjoy discounts and benefits of up to Rs 1.15 lakh, with additional exchange bonuses available on select variants.
- Tiago EV and Tigor EV (Model Year 2023): Even better discounts are on offer—up to Rs 2 lakh, plus an exchange bonus of up to Rs 1 lakh, depending on inventory.
- Punch EV (Model Year 2024): Discounts range from Rs 25,000 for lower variants to Rs 70,000 for top-end versions, with exchange bonuses for select models.
- Nexon EV (Model Year 2024): While no official discounts have been announced, some dealerships may offer benefits based on unsold stock.
- Nexon EV (Model Year 2023): Significant discounts of Rs 3 lakh are available on pre-facelift Prime and Max variants, while the facelifted version sees discounts of around Rs 2 lakh.
MG Motor: Attractive Offers on EVs
MG Motor is also stepping up with noteworthy discounts on its electric lineup:
- MG Comet: Discounts and benefits can go up to Rs 75,000, with potentially higher offers at outlets with more unsold inventory.
- MG ZS EV: Depending on stock availability, discounts range from Rs 1.5 lakh to Rs 2.25 lakh.
- MG Windsor EV: As a newly launched model, no discounts are currently available.
Mahindra: Focused Discounts on SUVs
Mahindra is offering substantial benefits on its electric SUV:
- XUV400: Enjoy benefits worth Rs 3.10 lakh on both battery options, making it an attractive choice for SUV lovers.
Hyundai: Price Cuts on Popular Models
Hyundai’s electric lineup is also seeing significant price reductions this month:
- Hyundai Ioniq 5: Discounts can reach up to Rs 2 lakh.
- Hyundai Kona Electric: A flat Rs 2 lakh cash discount is available on all variants, especially for pending inventory.
Government Schemes and Incentives
In addition to manufacturer discounts, various government initiatives are in place to encourage EV adoption:
PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-Drive)
- Launched on October 1, 2024, with a budget of Rs 3,679 crore for subsidies and demand incentives.
- Targets funding for 24.79 lakh electric two-wheelers, 3.16 lakh electric three-wheelers, and 14,028 e-buses.
- Allocates Rs 500 crore for e-ambulances.
State-Specific EV Policies
- Delhi: Offers 100% road tax exemption for 200,000 electric two-wheelers, 20,000 electric three-wheelers, 5,000 electric four-wheelers, and 500 e-buses.
- Maharashtra: Discounts of Rs 5,000 per vehicle for 100,000 electric two-wheelers, 15,000 three-wheelers, and 10,000 four-wheelers.
- Tamil Nadu: Offers Rs 10,000 per vehicle for 6,000 two-wheelers, 15,000 three-wheelers, and 3,000 four-wheelers.
Electric Mobility Promotion Scheme 2024 (EMPS 2024)
- Launched by the Ministry of Heavy Industries with a Rs 500 crore budget for four months (April to July 2024).
- Focuses on promoting electric two-wheelers and three-wheelers for commercial use.
- Provides a Rs 5,000 subsidy per kWh of battery capacity, capped at Rs 10,000 per vehicle for electric two-wheelers.
Things to Keep in Mind
- These offers are mostly valid until the end of December 2024.
- Discounts can vary by state, dealer, and vehicle availability.
- Many deals apply specifically to Model Year 2024 vehicles.
- Customers may have the flexibility to choose between exchange bonuses or scrappage discounts, depending on eligibility.
A Golden Opportunity for EV Buyers
With both manufacturers and the government stepping up incentives, December 2024 is shaping up to be an exceptional time to invest in an electric vehicle. These discounts not only make EVs more affordable but also align with India’s broader push toward sustainable transportation and carbon reduction. Given that EV sales in India surged 45% in FY 2024, these offers are likely to provide an extra boost to the adoption of electric vehicles across the country.
