India's third largest carmaker, Tata Motors (NS: TAMO ) (NYSE: TTM ), has created a stir in the sub-compact SUV segment with the unveiling of the 2023 Tata Nexon facelift and Nexon EV facelift. The nation is buzzing with anticipation for the official price reveal scheduled for Wednesday, September 14, 2023. However, an unexpected event has added to the excitement.
On Sunday, September 10, 2023, an Instagram user asked about the price of the new model under a post from Tata Motors showcasing the new Nexon. To everyone's surprise, Tata Motors responded by stating that the new Nexon facelift would be priced at Rs 7.39 lakh (approx. $8918.07). This comment was promptly deleted by the company but not before an automotive enthusiast captured a screenshot and shared it online, causing a sensation.
Following this incident, Tata Motors issued a statement saying, "The pricing of the new NEXON and new Nexon EV will be announced on 14th September 2023. Any related information that you may see prior or being reported in media is misleading and factually incorrect. The new Nexon is a major upgrade on design, innovation, technology, safety, comfort, and performance."
If this leaked price proves accurate and the base variant of the Nexon facelift launches at Rs 7.59 lakh, it could significantly boost the already high popularity of this SUV. This price would make it the most affordable sub-compact SUV in India, undercutting rivals like Hyundai (OTC: HYMTF ) Venue (Rs 7.77 lakh), Mahindra XUV300 (Rs 7.99 lakh), and Maruti Suzuki (NS: MRTI ) Brezza (Rs 8.29 lakh).
Interested customers can pre-book the vehicle by paying a token amount of Rs 21,000 either by visiting an authorized showroom or online through the company's official website.
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