Tata Motors launches Nexon Compact SUV at Rs 5.85 lakh to Rs 9.45 lakh

MUMBAI: Tata Motors, India's largest automobile company by revenues on Thursday launched its much-awaited compact Sports Utility Vehicle Nexon, aggressively pricing it at Rs 5.85 lakh to Rs 9.45 lakh ex-showroom New Delhi, in a clear bid to challenge the market leader Maruti Suzuki's Vitara Brezza and Ford Motor's EcoSport.

Targeted at the personal car buyers, Nexon is the 4th product based on the ‘Impact Design’ philosophy which the company claims of it bringing together global and contemporary design with advance technology and features for the ones who would like to express themselves with a unique style of their own.

The vehicle will be on sale, across 650 Tata Motors authorized sales outlets in India from today.

Unveiling the Tata Nexon , Guenter Butschek, CEO & MD, Tata Motors, said, “Our passenger vehicle market is dynamic. The fast-moving generation has clear preferences in terms of design and style. Catering to this discerning need of our customers, we have consistently pushed the boundaries of automotive engineering by creating new categories of vehicles. The Tata Nexon is the result of our intent to break away from the conventional approach of segmentation in its discreet forms and fulfilling a larger set of milieus."

Unlike the Tiago and Tigor, which were launched in a matured and crowded space, the Nexon is entering a segment that is at a very early stage of evolution. This, Tata Motors expects, would help the company grow with the market. Post the Nexon launch, the company's addressable market will expand to 71% from 59%, he added.

To be sure, the compact SUV segment has grown fivefold in the past four year, from 45,000 units in FY13 to almost 2.2 lakh in FY17.

Mayank Pareek, President- Passenger Vehicle Business Unit, Tata Motors, said, “Our focus is to introduce products that not only enhance the brand, but simultaneously align well with the rising aspirations of customer segments. As part of the aggressive turnaround strategy, we have renewed focus on filling in product gaps and tapping the white spaces that will emerge. Conceptualised as a lifestyle SUV for young progressive individuals, The NEXON is the culmination of this radical shift in thinking and will further expand Tata Motors’ addressable market.”