Subscribing Tata Nexon EV At Rs 41,900/Month Doesn’t Make Sense: Here’s The Reason Why?
Tata Motors have launched their 1st ever subscription model for cars, and the scheme has already been rolled out for Tata Nexon EV.
You will need to shell out Rs 41,900 per month for subscribing to Nexon EV from Tata Motors, and in our view, it doesn’t make any sense.
Subscribe Tata Nexon EV For Rs 41,900 Per Month
Tata Motors has collaborated with Orix Auto Infrastructure Services Limited for launching their 1st ever subscription model for cars.
Only 5 cities are covered initially: Delhi/NCR, Mumbai, Pune, Hyderabad and Bengaluru.
As part of their first offering, customers can subscribe to Tata Nexon EV, their latest electric car for a period of 18 months, 24 months or 48 months.
For 18 months subscription, the user will need to pay Rs 47,900 per month
For 24 months subscription, the user will need to pay Rs 44,900 per month
For 36 months subscription, the user will need to pay Rs 41,900 per month
Once the duration of the subscription ends, the user can extend their subscription or return the car.
These charges are all-inclusive.
Why This Subscription Model Doesn’t Make Sense
A new Tata Nexon EV comes in three variants:
Base model Nexon EV XM priced at Rs 13,99,000
Nexon XZ+ at Rs 14,99,000
And Nexon XZ+ Lux at Rs 15,99,000
In case a user subscribes to the base model for 36 months, at Rs 41,900 per month.
At the end of the 36 months, the user would have paid Rs 15,08,400.
This is much more than the actual price of the base model, and thus, there is no point in subscribing to it, then you can buy it.
In case the user subscribes for 24 months, at the Rs 44,900 per month, then at the end of 24 months, the user would have paid Rs 10,77,600, which is just Rs 3 lakh less than the actual price.
And in case of 18 months subscription, the user would have paid Rs 8,62,200, which is just Rs 5.4 lakh less than the actual price of the base model.
As per Tata, this subscription model is best suited for expatriates who have a fix tenure or professionals with frequent inter-city transfers.
In that case too, the finances of subscribing to this car are unevenly balanced.